BRISBANE GIRLS GRAMMAR SCHOOL 2019 2019 ANNUAL REPORT TO THE MINISTER FOR EDUCATION AND MINISTER FOR INDUSTRIAL RELATIONS The Honourable Grace Grace MP Minister for Education and Minister for Industrial Relations PO Box 15033 CITY EAST QLD 4002
1 March 2019
Dear Minister Reader’s Feedback and Interpretation Requests Brisbane Girls Grammar School is committed Annual Report 2018 to providing accessible services to people from all culturally and linguistically diverse I am pleased to present the Annual Report and Annual Financial Statements for the year ended backgrounds. Please provide any feedback, 31 December 2018 for Brisbane Girls Grammar School. interpreter requests or suggestions to the Director of Communications and Engagement at the undernoted I certify that this Annual Report complies with: address. • the prescribed requirements of the Financial Accountability Act 2009 and the Financial and Performance Management Standard 2009 Public Availability Copies of this report are available to view on, or to • the detailed requirements set out in the Annual Report requirements for Queensland Government download and print from, the School’s website, agencies 2017-2018. www.bggs.qld.edu.au/publications/. A checklist outlining the annual reporting requirements can be found on our website at www.bggs.qld.edu.au. Copies are also available on request to: Yours sincerely Brisbane Girls Grammar School Gregory Terrace Brisbane QLD 4000 Tel: +61 7 3332 1300 Fax: +61 7 3332 6097 Email: [email protected]
Julie McKay Chair, Board of Trustees
ISSN:1837–8633 © Brisbane Girls Grammar School 2020 The Honourable Grace Grace MP Minister for Education and MinisteThe Hor nfoourr aInduble Gstriaracel RelaGractie onMPs POMi Bnioxste r15 fo03r E3d ucation and CITYMini sEASTter for I nQLDdustr ial 400 Rela2 tions PO Box 15033 CITY EAST QLD 4002
1 March 2019 20 February 2020 Dear Minister
Annual Report 2018 Dear Minister
I amAnn pleasedual Rep otor tpresent 2019 the Annual Report and Annual Financial Statements for the year ended 31 December 2018 for Brisbane Girls Grammar School. I am pleased to present the Annual Report and Annual Financial Statements for the year ended I ce31rt Deifyc ethatmbe thisr 20 1An9 fnuor alBr iRepsbanoert Gi complrls Griaesm mwiarth: Sc hool. I certify that this Annual Report complies with: • the prescribed requirements of the Financial Accountability Act 2009 and the Financial and • Performancthe prescribee dMana requigreementments Standof the aFrdin an200cia9l Accountability Act 2009 and the Financial and Performance Management Standard 2019, and • the detailed requirements set out in the Annual Report requirements for Queensland Government • agenciesthe detaile 2017-2018.d requirements set out in the Annual report requirements for Queensland Government agencies 2018-2019. A checklist outlining the annual reporting requirements can be found on our website at wwwA ch.ebggcklis.qld.edu.aust outlining th. e annual reporting requirements can be found on our website at www.bggs.qld.edu.au.
YYouorsur ssin sincecerelyrely
Ms Julie McKay JulieCha McKayir, Board of Trustees Chair, Board of Trustees
ABN 31 445 392 850 Brisbane Girls Grammar School Telephone 61 7 3332 1300 [email protected] Gregory Terrace | Brisbane QLD 4000 Facsimile 61 7 3832 6097 bggs.qld.edu.au
Contents SECTION A: 2019 AT A GLANCE 1
SECTION B: THE SCHOOL EXPLAINED 3
Location 5
Nature and Range of Significant Operations 6
Strategic Priorities 8
SECTION C: OUR PERFORMANCE 13
Performance Against Key Objectives 14
Governance 14
Academic Results 14
Co-curricular 16
Student Attendance 16
Year 12 Outcomes 17
Non-Academic Performance 18
Community Engagement 18
Risk Management and Compliance 18
Health and Welfare of Students and Staff 18
Finance 18
Enrolments 22
Information Technology 22
Property, Facilities and Procurement 22
Human Resources 22
SECTION D: DISCLOSURE OF ADDITIONAL MANDATORY INFORMATION 27
ANNEXURE A—ORGANISATIONAL STRUCTURE 28
ANNEXURE B—2019 FINANCIAL STATEMENTS 29
ANNEXURE C—GLOSSARY 57
SECTION A: 2019 AT A GLANCE 2019 SECTION A—2019 AT A GLANCE
The following points summarise the highlights for Brisbane Girls Grammar School (the School) in 2019:
• The School was founded in 1875 as a secondary school for girls and in 2019 had 1364 students in Years 7 to 12.
• The School is academically non-selective in its year of entry (Year 7) and offers no scholarships.
• The School’s 2019 academic results reflect its longstanding reputation as one of Australia’s leading girls’ schools.
• The School achieved excellent results in the Australian National Assessment Program—Literacy and Numeracy (NAPLAN) testing with the Year 9 cohort ranked first in the state and the Year 7 cohort ranked third.
• One hundred per cent of students completing Year 12 were OP eligible; 99 per cent received offers for Bachelor Degree courses in Queensland.
• The 2019 Year 12 cohort exceeded Queensland state averages for Queensland Core Skills Test results and OP scores: 78.4 per cent received an A or B grade in the QCS Test; 17.80 per cent received an OP 1-2; 52.36 per cent received an OP 1-5; and 96.34 per cent of Year 12 students achieved an OP 1-15.
• The School finalised preparations for the introduction of the new Queensland senior assessment system.
• The Year 7 2019 recipient of the Brisbane Girls Grammar School Bursary, a means- tested bursary awarded to a girl who demonstrates the qualities of a Grammar girl—curious, principled, adventurous, balanced and a leader—commenced at the School.
• The School continued its partnership with Queensland Symphony Orchestra, providing girls with strong musical talent the opportunity to be mentored by some of Australia’s finest musicians.
• Essential elements of the School’s Strategic Design 2016–2019, which clearly and concisely articulates the School’s strategic direction (and is publicly available at www.bggs.qld.edu.au/news/publications/), were operationalised in 2019. A new Strategic Design was prepared for 2020–2022.
• The School maintained a strong financial position and contained the Tuition Fee increase for 2020 to 3.5 per cent, while maintaining its unique all-inclusive annual Tuition Fee Policy.
• The School continued its partnership with Brisbane Roar FC; their National Premier League Queensland 2019 women’s squad trained at the School’s fields at Fig Tree Pocket. The club also provided training programs to students.
• The School commenced construction of a new Science Learning Centre for delivery in January 2021.
• The School continued to implement its 25-Year Master Plan for the Spring Hill campus and will continue to identify the facilities required across its three campuses—Spring Hill, Marrapatta and Rangakarra.
2 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations
SECTION B: THE SCHOOL EXPLAINED 2019 SECTION B— THE SCHOOL EXPLAINED
Brisbane Girls Grammar School is an academically non-selective secondary school for girls, founded in 1875. The School is renowned for its innovative educational practices and consistent record of academic achievement. This report details the School’s achievements, performance and financial position for the 2019 financial year, and provides information on its strategies for the future, community engagement and governance processes.
The Grammar Schools Act 1860 provided for the establishment of Grammar Schools in Queensland. In 1875, Brisbane Girls Grammar School was founded as a branch of the Brisbane Grammar School, and in 1882 secured its independence with the appointment of a separate Board of Trustees. The School has continued to function under the Grammar Schools Act as revised from time-to-time.
The establishment and regulation of the School, including the constitution of the Board of Trustees and the functions of the Board, are provided for in the Grammar Schools Act 2016.
4 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations SECTION B— THE SCHOOL EXPLAINED
LOCATION The School operates three campuses:
MAIN CAMPUS, SPRING HILL Gregory Terrace BRISBANE QLD 4000 Phone: 07 3332 1300 Fax: 07 3832 6097 Email: [email protected] Website: www.bggs.qld.edu.au
MARRAPATTA MEMORIAL OUTDOOR EDUCATION CENTRE (MARRAPATTA) Yabba Creek Road IMBIL QLD 4570 Phone: 07 5484 5433 Fax: 07 5484 5403 Email: [email protected]
RANGAKARRA RECREATIONAL AND ENVIRONMENTAL EDUCATION CENTRE (RANGAKARRA) Sprenger Street FIG TREE POCKET QLD 4069 Phone: 07 3332 1300 Fax: 07 3832 6097 Email: [email protected] The School’s Main Campus in Spring Hill is situated on land held by the School under a Deed of Grant in Trust. The other two campuses are freehold land owned by the School.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 5 SECTION B—THE SCHOOL EXPLAINED
NATURE AND RANGE OF Distinctive curriculum offerings SIGNIFICANT OPERATIONS With a background of distinguished academic achievement, Brisbane Girls Grammar School Brisbane Girls Grammar School is a secular, provides a broad, liberal education that seeks to secondary school for girls and is academically non- prepare young women to contribute confidently to selective in enrolments during its intake year, Year 7. the world with wisdom, imagination and integrity. The School does not award scholarships (academic or The extensive range of subjects offered at Brisbane other), and does not require students to undertake Girls Grammar School, combined with the School’s entrance examinations. Enrolment offers for entry comprehensive co-curricular activities and well- to the major intake year (Year 7) are made in strict developed student care program, provide a platform waitlist order—that is, according to the date of for each girl to experience success and develop application. The School attracts students from a large intellectually, physically, emotionally and socially. number of areas across Brisbane. Brisbane Girls Grammar School is committed to The School’s tuition fee for 2019 was $24 910 maintaining innovative educational practices. The per student. As a differentiator from many other School offers an education that provides a basis independent schools, the School has an all-inclusive for continuous learning and one that encourages Tuition Fee Policy. This means that, as far as girls to engage in critical thought using a variety of practicable, the tuition fee includes the cost of most methodologies. From Year 7, learning experiences curricular and co-curricular activities, including are designed to excite students, capturing their academic camps, the visual and performing arts imagination, challenging them intellectually and program, group music tuition and class excursions. promoting their academic success. A differentiated The inclusive curriculum and extensive co-curricular approach to teaching and learning, co-curricular program aims to offer each girl the opportunity to experiences, and involvement in national and express her individuality and achieve her ambitions. international competitions, represent a selection Traditionally, students pursue tertiary studies of the strategies employed to stimulate positive and following graduation from Year 12 and the School’s enjoyable outcomes for students. curriculum reflects this. In 2019, 100 per cent of The School’s curriculum aims to offer each student students completing Year 12 were OP eligible and the opportunity to express their individuality, work 99 per cent of the cohort received an offer to towards their goals and be prepared to embark on a undertake a Bachelor Degree. The School’s Co- rewarding future. curricular Program includes sport, music, service, debating, public speaking, enrichment activities and Grammar Women, incorporating the Old Girls the performing arts. Association, is a network of past students that provides current students with access to a powerful group of The School’s Marrapatta Memorial Outdoor mentors. This is a valuable resource for Grammar girls Education Centre is located 175 kilometres north as they consider tertiary options and career paths in of Brisbane in the Mary Valley and was established the world beyond school. to provide a range of outdoor experiences and challenges for students. Outdoor Education Read more about the School’s curriculum here: is considered an integral part of the School’s bggs.qld.edu.au/academic. curriculum. Co-curricular activities The Rangakarra Recreation and Environmental Education Centre at Fig Tree Pocket comprises two At Brisbane Girls Grammar School, it is recognised playing fields and three ovals. Located 12 kilometres that academic education is best supported by a from the Brisbane CBD, it is the home ground for comprehensive co-curricular program. Designed sports such as hockey, softball, cricket and touch to complement the curriculum, these programs football. The natural environment of the site also encourage participation, teamwork, self-esteem and provides educational benefits for science, biology creativity. Grammar girls are encouraged to extend and environmental studies; in addition, service and explore their knowledge and interest in particular activities such as the ‘Grammar Goes Green’ initiative areas through their choice of co-curricular activities. provide opportunities for students, staff and the With more than 120 co-curricular options available, local community to work together to rejuvenate all students have the opportunity to be involved in surrounding bushland. a variety of pursuits including music ensembles, sport, service groups, debating, public speaking, Full lists of curriculum and co-curriculum offerings performing arts, enrichment activities and the Duke are available at bggs.qld.edu.au. of Edinburgh International Awards Scheme Program. The leadership roles assumed by girls in many of these activities support academic success and personal development.
6 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations This emphasis on involvement in the School Grammar girls are encouraged to question and act, both and wider community builds leadership skills, at School and in the wider community, where so many commitment and understanding. Students are have gone on to become outstanding contributors both encouraged to maintain a global perspective and look nationally and internationally. Brisbane Girls Grammar beyond their immediate environment. In order to School has a tradition of nurturing imaginative and promote a broad knowledge and understanding of adventurous women who use mind, body and spirit to the students in our care, and to provide for positive benefit the world. student-staff interactions beyond the classroom Read more about the School’s Student Care Program context, all teaching staff are expected to participate here: bggs.qld.edu.au/student-care/. in at least one co-curricular activity each year. Read more about the School’s Co-curricular Program Parental involvement here: bggs.qld.edu.au/co-curriculum Brisbane Girls Grammar School encourages parental Social climate involvement at the School. A strong foundation of collaborative partnerships between the School, staff Brisbane Girls Grammar School understands the and families contributes to the success and wellbeing importance of a strong and caring community in of Grammar girls. Parent-teacher communication is nurturing intellectual, emotional, spiritual and essential to ensuring this partnership, and an effective social growth in girls and young women. Growing system of communication between home and school is in learning and life requires courage and an ability well-established. Each girl is placed in a House with the to take risks. Grammar girls are encouraged to set Head of House responsible for her general welfare and high standards for themselves and to be strong communication management. From interviews prior to and resilient. The School believes strongly in the her entering the School, through to when she departs value of positive relationships as a powerful factor in Year 12, there is systematic and regular two-way in supporting students in their growth. Staff work communication between the School and parents in the together with parents to consider the learning and form of parent-teacher interviews, parent information emotional needs of each girl, while providing a evenings, formal and informal reporting in relation stimulating and challenging learning environment. to student learning, and via the School’s engaging The School’s Student Care Program assists students curricular and co-curricular programs. to develop their sense of identity and purpose to The School has a number of active parent support prepare them for life beyond school. groups including: the Parents & Friends Association; This careful, professional and individualised approach Mothers Group; Fathers Group; Music Support Group; is rewarded by the growth of confidence and self- Rowing Support Group; and Water Polo Support Group. belief in students. It is expected that maturing girls All parents and carers are welcome to be involved in develop inner discipline based on empathy and these groups as well as volunteering at the P&F Uniform respect for others. The School has a Promoting Positive Shop, School Cafés, and Rangakarra Recreational and Relationships Policy that seeks to counter bullying Environmental Education Centre Canteen. Parents are behaviours and a carefully devised and responsive also very involved in the School’s annual Open Day. Student Ethics Program, which communicates A representative group of parents (and students) are the School’s expectation that while difficulties in also involved in the Board of Trustees’ Annual Strategic relationships can occur in all human contexts, there is Planning Day. a clear belief that respectful and tolerant interactions should be maintained. Staff endeavour to keep up- to-date with understanding adolescent social media Parent, teacher and student satisfaction usage and communicate with parents about how the with the School School and families can work proactively together to In 2019, the School continued to respond to feedback protect the students in our care. from its independent, confidential ‘experience’ The Social Media Policy (Students), Acceptable Use Policy survey undertaken in 2016. Parents, students and staff (Students) and Student Code of Behaviour provide participated in the survey, providing views on academic guidance to students about the School’s expectations. performance, student care, outdoor education, co- Philosophically, the School believes in fostering curricular activities, sport, communications, reputation connectedness between people and ideas in a strong and facilities. community with a shared purpose. In relation to the five areas identified by parents as most The Student Ethics Program from Years 7 to 12 important—quality of teaching, academic standards, a provides age-appropriate experiences to assist students balanced and challenging education, student wellbeing to make ethical and informed choices in the world and reputation—expectations were being met or they inhabit. exceeded by the School. Students and staff recorded similar levels of satisfaction across the same five areas with expectations being met or exceeded.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 7 SECTION B—THE SCHOOL EXPLAINED
STRATEGIC PRIORITIES The second, three-year cycle of Open Doors—Noticing (opportunity to reflect, experiment and explore)— In 2019, the School entered the fourth and final commenced in 2017. In 2018, the second phase— year of its four-year strategic planning cycle. The Distilling (time to analyse, debate, refine and performance indicators in this report have been value)—commenced, with the third and final phase— measured against the strategic goals articulated in the Consolidating (time to consolidate) completed in 2019. Strategic Design 2016–2019: New system of senior assessment ASPIRATION The School continued to prepare for the 2020 Brisbane Girls Grammar School aspires to be a leader introduction of the Australian Tertiary Admission in exceptional scholarship. Rank (ATAR). Girls Grammar staff have worked closely with the Queensland Curriculum and Assessment INTENT Authority (QCAA) to support the implementation of the new system. Proud of our Grammar tradition, we are a secondary school that establishes the educational foundation for 25-Year Master Plan young women to contribute confidently to their world The School has developed a 25-Year Master Plan for its with wisdom, imagination and integrity. Spring Hill campus and will continue to identify the facilities required across its three campuses— Spring GUIDING PRINCIPLES Hill, Marrapatta and Rangakarra. The 25-Year Master • Systematic curiosity in teaching, learning and Plan is intended to provide a blueprint for the School’s research properties and facilities for the future. • Judicious and ethical action A new Science Learning Centre • Life-wide learning In 2019, the School commenced construction of a • Stewardship and sustainability new Science Learning Centre for delivery in January • Purposeful community engagement 2021. The Science Learning Centre will transform science education at Girls Grammar, ensuring girls GOVERNMENT OBJECTIVES are prepared for the world in which they will live and work. Constructed over seven levels, the Science Brisbane Girls Grammar School has contributed Learning Centre will significantly increase the number to the priorities as stated in the Queensland of laboratories and general learning areas available at Government’s Objectives for the Community through Girls Grammar. delivering excellent educational outcomes with 100 per cent of our Year 12 cohort receiving tertiary Partnership with Queensland Symphony placement offers. This, combined with strong student Orchestra retention and engagement and innovative education practices, seeks to ensure its students are skilled for The School continued its Education Partnership the future. with Queensland Symphony Orchestra in 2019, providing girls who demonstrated strong musical talent the opportunity to be mentored by some of INITIATIVES Australia’s finest musicians in a real-world setting. The School’s new Strategic Design 2020–2022 will be This partnership culminated in a performance at implemented in 2020. Operational initiatives planned the Queensland Performing Arts Centre, with 13 for the School in 2020 include: Girls Grammar students performing on stage with Queensland Symphony Orchestra in Latin American Professional review cycles for Gala on 17 August 2019. academic staff Purposeful community engagement The School’s approach to Professional Review is designed to improve teaching practice longitudinally. The School undertakes strategic activities to In 2014, Girls Grammar implemented Open Doors— strengthen networks with relevant local, national and a cyclical review program that encourages staff to visit international communities that share a belief in the the classrooms of colleagues in their own teaching importance and value of educating girls and young areas and from other disciplines. women.
8 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations POLITICAL AND ECONOMIC SENIOR MANAGEMENT CLIMATE The Senior Management of the School for the financial Brisbane Girls Grammar School continues to closely year 2019 was as follows: observe the Queensland economy. The political landscape has been of interest to the School with Principal national and state education policy announcements Ms Jacinda Euler, BA, GDipEd, MEdSt, MACE, MACEL, and funding of independent schools remaining MAICD under close review. The Board of Trustees has been working over many years to ensure that annual Responsible for the leadership, development and tuition fees are kept at a level that provides for the management of the School including academic, sustainability of the School, while still being at an co-curriculum and student care programs, human acceptable level for families. resources, finance and physical assets. The School remains committed to keeping the Also has responsibility for policy development, capital annual increase in tuition fees as low as possible while works projects, strategic planning and community making allowance for annual agreed wage increases engagement. for staff under the Enterprise Bargaining Agreement 2019 and addressing a decline in real terms of government Chief Financial Officer and Secretary to the funding from both State and Federal Governments. Board Staff salaries represent the single most significant cost Ms Rachel Fraser, BCom, Grad.Dip Adv.Acctg, CA, GAICD input to the operation of the School at approximately 68 per cent of total cost. The 2019 fee increase was Responsible for the financial, facilities, risk and 3.25 per cent. information technology and systems management of the School. The following changes and proposed changes to legislation will have, or have had, an impact on the School: Deputy Principal Mrs Anne Ingram, BSc, DipEd, AMusA NATIONAL CURRICULUM Supports the Principal in the academic leadership The School continues to monitor the release of the and operational management of the School and National Curriculum by the Australian Curriculum implements strategies and plans as delegated by the Assessment and Reporting Authority (ACARA). Principal. Has collaborative leadership responsibilities Subject areas working under mandated syllabi have in relation to the design, development and delivery fulfilled the content requirements. The School of the School’s Student Care Program and Student continues to meet minimum ACARA time allocations Care staff. The Deputy Principal may assume the for all approved syllabi. responsibilities of the Principal in her absence. QUEENSLAND CURRICULUM AND ASSESSMENT AUTHORITY (QCAA) Deputy Principal (Academic) The School has monitored the development of the Dr Bruce Addison, BA, BBus(Econ), BEdSt, PhD, new internal-external assessment structure devised by DipEd, MAICD, MACE, FACEL the QCAA. Has collaborative leadership responsibilities in relation In 2019, the Year 12 cohort completed the QCS/ to the development and delivery of the School’s OP system. Concurrently, the Year 11 cohort was our curriculum as well as academic staff professional first cohort to complete Units 1 and 2 of the QCE/ development. The role contributes to the strategic ATAR system. This cohort will complete Units 3 and 4 planning and leadership of the School and may assume and their associated internal and external assessment the responsibilities of the Principal in her absence. components in 2020. GOVERNMENT FUNDING ORGANISATIONAL Changes to Commonwealth and State funding STRUCTURE for education and schools continues to be closely The School’s organisational structure is outlined in monitored by the School. The School’s expectations Annexure A (see page 28). and long-term forecasts acknowledge a transition to lower levels of Federal and State funding over the next 10 years and has factored this into its long term forecasting.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 9 SECTION B—THE SCHOOL EXPLAINED
GOVERNANCE Membership of the Board and its Committees is voluntary and there is no remuneration for this commitment. No out-of-pocket expenses have been reimbursed to the Board BOARD OF TRUSTEES of Trustees during 2019. The Board of Trustees of Brisbane Girls Grammar School is constituted under the Grammar Schools Act Ministerial Nominees 2016. To meet the contemporary needs of grammar • Ms Kerryn Newton, LLB, LLM, MBA, MA, Grad Dip schools, and to support succession planning, the (Applied Finance and Investment), FAICD, FGIA, FIML Grammar Schools Act 2016 provides that the Board of (Deputy Chair) Trustees comprises at least seven, but no more than nine persons. Four positions are nominated by the • Professor Adam Shoemaker, BA Hons, PhD Minister for Education (presently the Minister for • Mr Andrew King Education and Minister for Industrial Relations), three appointments are filled following an election process • Ms Diana Lohrisch, BComm, BLLB, FGIA with candidates nominated from the School’s Roll of Electors, which comprises certain donors to the School, Elected Representatives and up to two additional members may be chosen by • Ms Julie McKay, BA, BBusMan, Fellow in Ethical the Board and nominated by the Minister. Leadership, EMBA, MPP (Chair) Members appointed on the nomination of the Minister • Associate Professor Dr James Lindsay Nicklin, MBBS, may be appointed for a term of up to four years and FRANZCOG, CGO members appointed following an election process are appointed for a fixed term of four years. Members from • Ms Sophie Moore, BBus, CA, FFin (Chair, ARC all categories are eligible for reappointment. Committee) The term of office for the School’s Board of Trustees Additional Board Nominees pursuant to Section was due to expire on 18 December 2018 following 14(1)(c) of the Grammar Schools Act 2016 an election process throughout 2018 undertaken in accordance with the Grammar Schools Act 2016. These • Mr Tony Young, Bus(Acct), FCA, CPA, FTIA, GAICD positions were held over until 2019 pending formal The Board of Trustees’ overall responsibility under approval of the appointments by the Governor in Section 11 of the Grammar Schools Act 2016 is to: Council (such approvals were subsequently given on 31 January 2019). • supervise, maintain and control the operations of the School As at 31 December 2019, there were eight Board members. Refer to Government body reporting • erect, alter, add to, purchase or sell buildings used template in accordance with 13.3 of the Annual or to be used for the School Reporting Requirements for Queensland Government Agencies. • effect general improvements to the premises used The Board of Trustees is the School’s governing body, or to be used for the School accountable to the School’s broad community of • provide an educational programme for the School stakeholders for the good governance of the School. As the School is a statutory body, the Board of Trustees • create policies and procedures about: has direct accountability to the Minister for Education fees and charges payable in relation to students (presently the Minister for Education and Minister enrolled or to be enrolled at the School for Industrial Relations) in Queensland, as well as a responsibility to past, current and future families. the management and control of the School The Board updates governance policies regularly and the discipline and conduct of students enrolled discharges its role primarily through the meetings of at the School. the Audit, Risk and Compliance (ARC) Committee, The powers of the Board are contained in the Act and with additional meetings of the Board for specific include the power to: purposes, such as strategy development, as necessary. • make by-laws about elections under the Act (Section 13) In 2019, nine meetings were held including Board meetings and an all-day strategy planning session. • establish trust funds and to accept gifts and the like subject to certain conditions (Section 25) The Development and Philanthropy Committee (established in 2015) meets approximately four times • establish investment common funds (Section 26) a year to support the Board of Trustees in relation • appoint staff (Section 28). to the development and approval by the Board of an explicit Development and Philanthropy Strategy for implementation by the School.
10 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Audit, Risk and Compliance Committee The effective management of risks is an integral Members part of the day-to-day operations at the School, without causing the organisation to be risk averse. • Ms Sophie Moore (Chair) The elements of risk management at the School, as • Ms Kerryn Newton overseen by the ARC Committee in 2019, include: • Mr Tony Young • a Risk Management Framework approved by the Board of Trustees • Mr Andrew King (from March 2019 upon dissolution of CA Committee) • regular risk and compliance report to the Board of Trustees Capital Assets Committee Members (dissolved March 2019 and body of work transferred • annual review of risk registers to ARC Committee) • annual self-assessment of compliance with key • Mr Tony Young (Chair) controls in place to manage risks • Ms Sophie Moore • annual review of policies and procedures and, for key policies, a rotational review by the School’s • Mr Andrew King lawyers Development and Philanthropy • rotational external compliance reviews for high- Committee Members rated risks. • Ms Julie McKay (Chair) The Queensland Audit Office (QAO) did not report any material control weaknesses in its report to • Professor Adam Shoemaker the Board of Trustees on the audit of the financial • Associate Professor Dr James Lindsay Nicklin statements of the School for the year ended 31 December 2019. RISK MANAGEMENT AND In May 2019, the following QAO report was tabled in EXTERNAL SCRUTINY the Queensland legislative assembly ‘Education: 2017- 18 results of financial audits (Report 19: 2018- 19)’. Risk management is overseen by the Board of This report summarises the results of QAO financial Trustees. The Board has an Audit, Risk and audits of the eight Queensland grammar schools with Compliance (ARC) Committee, which acts as a a financial year end of 31 December 2018. It provides review committee and meets at least four times a an overview of the schools’ finances at 31 December year to monitor the School’s financial goals and 2018 and of the financial accounting issues that arose other resource implications. The ARC Committee during the audits. met four times throughout 2019, and has observed the terms of its charter. The ARC Charter and the operation of the ARC Committee have due regard to ETHICS the Audit Committee Guidelines. The School applies the Code of Ethics for Teachers in Queensland. All staff within the School are bound The Chief Financial Officer is responsible for the by this code. The code is available on the School’s day-to-day management of risks with the assistance intranet site and staff are also reminded of the code of the School’s Risk and Compliance Officer. The annually and at induction. All teachers within the School has a well-developed risk management and School are Provisionally Registered or Registered compliance program. Effective risk management with the Queensland College of Teachers. Teacher is an essential factor in sustainably safeguarding Registration recognises the significant role of the School’s students, staff and assets, as well as its teaching as a profession and ensures that high reputation. standards of preparation, conduct and practice are The School does not have an internal audit upheld through the application of its Professional department/program, but rather operates an Standards for Queensland Teachers. In addition, internal self-assessment program to obtain assurance the Board of Trustees has a separate Trustee Code of that controls are in place to manage risks. Conduct.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 11 SECTION B—THE SCHOOL EXPLAINED
RECORDS GOVERNANCE Principle 3—Agencies must create complete and reliable records The School has a Records Management Policy and records are currently managed through the use of The School creates, captures, manages and retains network folders aligned with the School’s Business full and accurate records of the School’s business Classification Scheme. activities, which evidence decisions, support accountability and transparency, mitigate risk, help Information systems are currently used to report on the School meet legislative requirements and reflect financial and operating performance to the Board the business of the School. of Trustees on a monthly basis. A 10-year forecast Processes and procedures are communicated to staff quantifying and supporting the School’s Strategic detailing how such records must be created, when Design is reviewed and approved by the Board of they must be created, who must create them and the Trustees on an annual basis. An approved annual correct format they must be created in. budget is used to monitor performance on a monthly basis. The School is working towards a life cycle of its documents in a password protected online network The School aims to be compliant with the principles filing system, as well as hardcopy files located in underpinning the Queensland Government’s Records lockable filing cabinets onsite and archived files in a Governance Policy. Details of compliance are as follows: secure off-site location. RECORDS GOVERNANCE Principle 4—Agencies must actively manage permanent, high-value and high-risk records and POLICY information as a priority Principle 1—Agencies must ensure records The School has identified permanent records and an management is supported at all levels of the appropriate archiving methodology for these records. business Principle 5—Agencies must make records The School’s Records Management Policy assigns roles discoverable and accessible for use and re-use and responsibilities for recordkeeping. The School ensures records are discoverable, Key roles have been assigned formal records accessible and are able to be used and re-used management responsibilities to monitor and support by keeping records in the School’s systems and the implementation of the School Records Management applications. Policy. All business areas and staff are responsible for Principle 6—Agencies must dispose of records identifying what records need to be created or in a planned and authorised way captured within their area of responsibility to The School does not currently dispose of any records establish a full and accurate account of the School’s and is finalising its retention schedule in line with business activities and decisions. Queensland State Archives Education and Training Sector Retention and Disposal Schedule. Principle 2—Agencies must systematically manage records using governance practices that are integrated and consistent with broader agency frameworks The School has implemented an online network folder system to assist with the management of electronic records. In addition, the Records Management Policy includes a procedure for document titling. The School is working towards a strategy of digitising documents but already allows for electronic updating of parental details, electronic sign-off for excursion consent and electronic leave approval. The School has also made scanners available to allow for digitisation of other documentation including correspondence, contracts and hardcopy forms. The School uses an electronic learning management system to enhance digitised delivery of curriculum resources.
12 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations
SECTION C: OUR PERFORMANCE 2019 SECTION C—THE SCHOOL’S PERFORMANCE The School’s Strategic Design 2016-2019 articulates five Guiding Principles: • Systematic curiosity in teaching, learning and research • Judicious and ethical action • Life-wide learning • Stewardship and sustainability • Purposeful community engagement The details of the Strategic Design 2016-2019 can be found on the School website. PERFORMANCE AGAINST KEY OBJECTIVES The School’s performance against key objectives is summarised below:
GOVERNANCE Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE Governance Annual review of all Board policies All targets were met Processes Annual Strategic Planning Day Good attendance at Board meetings Approval and monthly review of financial results and budgets Annual approval of budget and ten year forecast Review of monthly risk reports Monthly board meeting evaluations Monthly review of risk declarations
ACADEMIC RESULTS Systematic curiosity in teaching, learning and research KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE Year 12 results Year 12 results exceed state averages and • The Year 12 cohort outperformed all majority of students receive their first, second state averages for OP and QCST results or third preference tertiary placements • 100 per cent of the Year 12 cohort received a tertiary placement offer Academic NAPLAN results exceed national averages • The Year 9 cohort was ranked first benchmark overall in the State results • The Year 7 cohort was ranked third overall in the State Disruption to No/minimal disruption to classes over a This target was met curriculum/ period of time due to timetabling issues operations
The School’s exceptional record of academic excellence was again demonstrated with the 2019 Year 12 students achieving outstanding results.
OP RESULTS RESULT PERCENT OF BGGS COHORT PER CENT OF STATE* 1–2 17.8% 6.88% 1–5 52.36% 22.5% 1–15 96.34% 82.92% 1–20 100% 98.37%
* State OP 1–25 = 100%
14 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations QCS TEST RESULTS GRADE PERCENT OF BGGS COHORT PER CENT OF STATE A 39.2% 15.3% B 39.2% 28.2% C 18.3% 35.2% D 3.2% 21.1% E 0.0% 0.2%
These results show 78.4 per cent of our students received an A or B grade compared with 43.5 per cent of students across the state in the QCS Test. It is important to note that entry into Year 7 at Brisbane Girls Grammar School is not academically selective—which provides the School with a diverse student population— and importantly, the School does not award academic scholarships. Therefore, these impressive results are testament to the high quality teaching and positive learning culture inherent in the student body at the School.
NAPLAN Results The School’s Year 9 cohort were ranked first in the state for Year 9 NAPLAN, and the Year 7 cohort were ranked third overall. This standardised testing is completed by all Australian students in Years 3, 5, 7 and 9. There are five results emerging from the papers: reading; writing; spelling; grammar and punctuation; and numeracy. The achievements of the Year 9 and Year 7 students are recorded in the tables below.
YEAR 7
LEARNING BGGS 2018 2018 BGGS 2019 2019 Percentage at or AREAS NATIONAL NATIONAL above National AVERAGE AVERAGE Minimum Standard Reading 616 542 619 546 100% Writing 573 505 572 513 100% Spelling 606 545 601 546 100% Grammar and 645 544 634 542 100% punctuation Numeracy 613 548 625 554 100%
YEAR 9
LEARNING BGGS 2018 2018 BGGS 2019 2019 Percentage at or AREAS NATIONAL NATIONAL above National AVERAGE AVERAGE Minimum Standard Reading 652 584 650 580 100% Writing 602 542 607 549 98% Spelling 645 583 638 582 100% Grammar and 664 580 654 573 100% punctuation Numeracy 672 596 652 592 100%
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 15 SECTION C—THE SCHOOL’S PERFORMANCE
CO-CURRICULAR Judicious and ethical action/Life-wide learning KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Student co-curricular Attain more than 90 per cent 95.82 per cent of students participation participation rates in co-curricular participated in co-curricular activities activities
Students are actively encouraged to participate in activities provided and the table below provides a summary of 2019 student participation per year level.
YEAR LEVEL NO. OF PARTICIPANTS Percentage of cohort participating 7 244 98.79% 8 239 98.35% 9 237 95.56% 10 225 92.59% 11 181 94.76% 12 180 94.24% TOTAL 1306 95.82%
STUDENT ATTENDANCE
Student Attendance Rates The average attendance rate as a percentage in 2019 was 96.1 per cent.
YEAR LEVELS Average attendance rate for each year level as a percentage in 2019 7 97.1% 8 96.8% 9 95.5% 10 95.0% 11 96.5% 12 95.9%
A description of how non-attendance is managed by the School The School has a Student Attendance Policy which sets out procedures for early intervention for students at risk of developing irregular patterns of attendance.
16 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Apparent Retention Rate The Year 10 to 12 Apparent Retention Rate is defined as the number of full-time students in Year 12 in any given year expressed as the percentage of those students in Year 10 two years previously (this may be greater than 100 per cent).
LEAVING YEAR YEAR 10 BASE YEAR 12 RETENTION RATE % 2016 236 238 100.85% 2017 247 243 98.38% 2018 234 238 101.71% 2019 186 191 102.69%
YEAR 12 OUTCOMES The School has a consistent record of academic excellence—particularly remarkable as Brisbane Girls Grammar School is not an academically selective school. The School offers two means-tested bursaries—the Maria Sulima Bursary and the Brisbane Girls Grammar School Bursary. The inaugural recipient of the Brisbane Girls Grammar School Bursary commenced in Year 7 2019. Of the 2019 Year 12 cohort, 100 per cent were eligible to receive an OP (Overall Position) score.
Number of students awarded a Senior Education Profile 191 Number of students awarded a Queensland Certificate of Individual Achievement 0 Number of students who received an Overall Position (OP) 191 Number of students who are completing or completed a School-based Apprenticeship or Traineeship (SAT) 0 Number of students awarded one or more Vocational Education and training (VET) qualifications 2 Number of students awarded a Queensland Certificate of Education at the end of Year 12 191 Number of students awarded an International Baccalaureate Diploma (IBD) 0 Percentage of Year 12 students who received an OPI 1-15 or an IBD 96.34 Percentage of Year 12 students who are completing or completed a SAT or were awarded one or more 100 of the following: QCE, IBD, VET qualification Percentage of Queensland Tertiary Admissions centre (QTAC) applicants receiving an offer 99
Post-school Destination Information At the time of publishing this School Annual Report, the results of the 2019 post-school destinations survey, Next Steps—Student Destination report for the School was not available. Information about post-school destinations of students will be uploaded to the School’s website in September after release of the information.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 17 SECTION C—THE SCHOOL’S PERFORMANCE
NON-ACADEMIC PERFORMANCE
COMMUNITY ENGAGEMENT Purposeful community engagement KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Engagement with our stakeholder Mostly positive feedback from The School maintains a groups (parents, alumni, old girls stakeholder groups through complaints and compliments and donors) formal and informal stakeholder register; complaints are followed satisfaction surveys up and resolved
RISK MANAGEMENT AND COMPLIANCE Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Risk management Annual review of all risks registers This target was met
Compliance with policies and Annual internal self-assessment This target was met legislation compliance reviews for key areas Action plans implemented to reduce any risk areas or non- compliance issues noted
HEALTH AND WELFARE OF STUDENTS AND STAFF Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Preventable injuries Reduction in injury rates due to This target was met with a year- monitoring and action taken to on-year decrease in the number reduce likelihood and severity of of incidents and no ‘high’ or incidents ‘critical’ incidents occurring
FINANCE Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Income and expenditure within Actual results remain within The year-end financial results Board approved budget budget were favourable and were in line with the Board approved annual budget
Cash fund balance positive General fund balance remains This target was met adequate to fund day-to-day expenses
Debtors levels reasonable Debtors > 90 days < 5 per cent of This target was met fees billed
Healthy balance sheet Working capital ratio of 1:1 This target was met
Legislation Compliance with tax legislation This target was met or changes in legislation affecting the School
18 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations In accordance with the Strategic Design 2016–2019, the School’s financial management must deliver appropriate, sustainable, transparent and empowering fiscal management that balances the surplus requirement for future reinvestment with immediate educational program priorities. Annual Financial Statements (Annexure B) for 2019 highlight the School’s strong financial position. The annual operating surplus of $4.079M (2018: $2.445M) was above budget expectations of the Board of Trustees, driven by the following factors: • The School budgeted an increase in revenue and overall surplus for 2019 (and 2020) to reflect anticipated philanthropic giving which will flow directly into the funding of the new Science Learning Centre. To date the School has received higher than expected support for this project and met its revenue budget for the year, with the target for 2020 remaining a strong focus for the School. • The School’s investments (held in the QIC Growth fund) performed well above expectations, contributing $904k to revenue in 2019 (2018: $223.5k), with the overall fund performance returning losses previously recorded by the School in 2018. These returns were offset by a reduction in government funding received for the year.
ANNUAL OPERATING RESULT 2015–2019
0 0
0 0
20 0 Millions
10 0
0 0 INCOME E ENSES S R L S
201 201 201 201 2019
Figure 1. Annual Operating Result 2015-2019
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 19 The School has continued to generate consistent and reasonable surpluses each year, which are used by the School to fund payments on capital loans, capital expenses and to provide for future capital projects and ensure long-term sustainability. Of particular focus for 2019 is the Science Learning Centre Project which is budgeted to cost $37.3M. The main revenue source of the School is tuition fees, comprising 72 per cent of total revenue (2018: 72 per cent) as demonstrated in Figure 2. State and Commonwealth Government Funding reduced slightly to 17.4 per cent. The Board remains committed to keeping the School’s annual increase in tuition fees as low as possible for the broad and deep offerings sought and expected by our families, and to ensuring a consistent and reliable approach when setting fees. This includes maintaining a long-standing policy of an all-inclusive fee, with no additional levies, while addressing a decline in real terms of government funding from both State and Federal Governments. Tuition fees comprise around 72 per cent (2018: 72 per cent) of the School’s annual income, out of which three of the most significant categories of expenditure in delivering the exceptional education for which Girls Grammar is renowned are: • employing the best teachers and other professional staff it is possible to secure and remunerating them fairly and appropriately, this representing around 66 per cent (2018: 64 per cent) of our annual expenditure; • delivering excellent academic programs; and • providing the resources required to deliver the current quality and standard of a Brisbane Girls Grammar School student experience and, additionally, the School’s physical resourcing requirements into the future. The ongoing growth, liquidity and financial stability of the School is supported by the ongoing careful review of the School’s procurement and efficiency opportunities to find sustainable cost and productivity savings without reducing or impacting on the experience of its students, families and staff. Expenditure increases in 2019 were primarily driven by increased employee expenses, in line with the agreed terms and conditions of employment of the School’s employees through its Enterprise Bargaining Agreement 2019.
The key income and expenditure areas of the School are set out in Figures 2 and 3 below:
INCOME BY CATEGORY EXPENDITURE BY CATEGORY For the Year Ended 31 December 2019 For the Year Ended 31 December 2019
10 10 1 1 1 1 2 2 1 9 1 9
2 2
E plo eeE plo ee E penditure E penditure epreciation epreciation and A ortisation and A ortisation
inance inanceCosts Costs uition ees uition eesGrants andGrants Contri utions and Contri utionsOther Other SuppliesSupplies and Ser ices and Ser ices
Other E pensesOther E penses
Figure 2. Income by Category Figure 3. Expenditure by Category
20 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Capital expenses for 2019 focused on the Science Learning Centre, with construction commencing in July 2019. The project is overseen by a Project Steering Committee and will be delivered within its expected budget and timeframe, and be fully operational, for the commencement of the 2021 Academic Year. Additionally, the School commenced investment in environmental sustainability initiatives, including solar systems installed on the Cherrell Hirst Creative Learning Centre and McCrae Grassie Sports Centre buildings and investigation of solar and wind initiatives at its Outdoor Education campus at Imbil. These initiatives were undertaken alongside renewed and alternative approaches to waste management with a view to support cost savings and environmental imperatives. During 2019, the School entered into a contract for the acquisition of land (45.6ha) in close proximity to its current Outdoor Education campus at Imbil. This new property, referred to as ‘Bella Junction’, has direct creek access and will support and supplement the School’s current outdoor education offering. The School undertook a number of other projects, which included the commissioning of three new classrooms in Main Building (following the relocation of administration offices to Bread House), the relocation of offices for Health and Physical Education staff, the continuation of the locker improvement program as well as commencement of a new shade structure at Marrapatta Memorial Outdoor Education Centre, Imbil. During 2019, the School has continued its investment in the School’s IT infrastructure and systems. In January 2019, a renewed website was launched and provided an improved platform to share School information, events and BGGS News. The School continues to review and assess its systems and has commenced implementation of an integrated Learning Management System that will be introduced to the School in 2020.
Monitoring of financial performance and effectiveness Management and the Board of Trustees, with support from its Committees, continually monitor the School’s financial performance and effectiveness. This is undertaken through monthly financial reporting, a robust budget process and annual review of the School’s 10-Year strategic forecasting.
GOVERNMENT ASSISTANCE The School acknowledges the contributions made by the State and Commonwealth Governments in the form of grant allocations. The grants received and approved in 2019 included: • Recurrent State and Commonwealth Government Grants, including Indigenous assistance: • Commonwealth Grants—$5 189 687 • State Government Grants—$2 948 425 • Funding from the Queensland Government for VET Co-ordination, special education and students with a disability—$1 733 • Queensland State Endowment Grant provided to Grammar Schools in Queensland to assist with the additional cost of complying with State Government legislation for Statutory Bodies—$21 500
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 21 SECTION C—THE SCHOOL’S PERFORMANCE
ENROLMENTS Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Waiting list numbers strong Waiting lists for 1 to 5 years greater Target met; enrolment interest than student numbers required and waiting lists remain strong
Entry year (Year 7) numbers Intake numbers exceeded This target was met enrolment target
INFORMATION TECHNOLOGY Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
IT systems disruptions No unscheduled down time of key This target was met systems campus-wide for longer than one hour
Upgrade and maintenance of IT Continuous upgrade and Some of the major IT projects maintenance of IT equipment to completed in 2019 included: meet the School's requirements • new website and CRM project and stay abreast of latest for delivery in January 2019 technology developments • refresh of the School’s servers and data centre • review of School IT systems for integration and alignment
PROPERTY, FACILITIES AND PROCUREMENT Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Maintenance Ensuring a physically safe School/ The School continued its working environment through focus on ensuring a safe work regular maintenance of buildings, environment across all three equipment, grounds and gardens campuses; regular audits were carried out carried out and actions for repair and maintenance were completed
HUMAN RESOURCES Stewardship and sustainability KEY AREAS DETAILS OF MEASUREMENT PERFORMANCE
Staff turnover Staff retention rates to remain The overall staff retention rate above 80 per cent was 88 per cent
Employee relations Performance issues managed Staff performance issues were effectively carefully managed, resulting in positive outcomes
22 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Staff composition Our academic staff comprises 122 full-time, 24-part time and 10 non-teaching staff.
Qualifications of all teachers
QUALIFICATION Percentage of classroom teachers and school leaders with qualification Doctorate or higher 8% Masters 33% Bachelor degree 97% Diploma 55% Certificate 14%
Strategic talent management The School consolidated its reputation as an employer of choice resulting in the attraction, recruitment, retention and engagement of high calibre staff. Through effective strategic recruitment practices and supporting Human Resource systems, the School has strengthened its ability to attract and recruit the best educators and professional staff to deliver its strategic goals. All new staff participated in a comprehensive induction and on-boarding program on commencement with the School. Additionally, all staff (i.e. new and current staff) participated in a Staff Week Program at the beginning of the year to ensure they were well-prepared for the start of the Academic Year. With a strong culture of lifelong learning and commitment to staff development, the School prides itself on its exceptional staff professional development program. Professional development is carefully planned to ensure the School has the expertise to deliver high quality teaching and learning to achieve optimal outcomes for students. The School remains committed to strengthening the leadership capacity of its senior and middle leadership. In 2019 all members of the Senior Leadership Team completed Leadership Innovation sessions conducted by facilitators from consultancy firm Stephenson Mansell. Middle leaders, as well as academic staff, continue to immerse themselves in a number of professional development opportunities based on Harvard University’s internationally renowned Cultures of Thinking protocols. This approach to teaching and learning forms an integral component of the School’s School Wide Pedagogy model.
Staff wellbeing The School is committed to the health and safety of all staff and encourages staff to take responsibility for maintaining a healthy lifestyle. The School’s mindfulness program continued to be well received by staff. Additionally, all staff have access to an external employee assistance program (EAP) that provides confidential counselling services at no cost to staff.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 23 SECTION C—THE SCHOOL’S PERFORMANCE
Staffing levels The graph below shows comparative staff full-time equivalents over the past three years
STAFF BUDGET 2017 – 2019
2 0
200
1 0 Acade ic E
rofessional E 100 otal E
0
0 201 201 2019
ACTUAL STAFF NUMBERS (FTEs) STAFF RETENTION RATES (PERCENTAGES) AS AT 31 DECEMBER 2019 AS AT 31 DECEMBER 2019
Academic Staff 135 Academic Staff 90
Professional Staff 68 Professional Staff 85
TOTAL STAFF 203 TOTAL STAFF 88
Staff attendance Average staff attendance for the School in 2019 was 97 per cent, based on unplanned absences of sick and emergency leave periods of up to five days.
Staff retention The staff retention was 88 per cent for the entire 2019 school year.
STAFF RETENTION RATES 2017 – 2019
100 0
0 0
0 0 Acade ic
rofessional 0 0 O erall 20 0
10 0 201 201 2019
24 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Expenditure on, and teacher participation in, professional development The School recognises that teacher knowledge and skills, along with quality administrative support, contribute significantly to the quality of teaching and learning outcomes. Therefore, the School actively supports the professional development of all staff. The School adopts a considered approach to professional development and provides a substantial budget managed by the Deputy Principal and the Deputy Principal (Academic). All applications for professional development are submitted to the Professional Development Committee for consideration and approval. The Senior Leadership Team, Directors of Faculties and other managers responsible for staff must ensure that staff have the requisite skills and knowledge necessary to effectively deliver the School’s educational program. An important aspect of professional development is that learnings and ideas are shared with respective colleagues within the individual’s Faculty/Department. The School provides a diverse range of learning opportunities for staff including Staff Conference Days, where staff present on key points of professional development undertaken during term breaks. The Centre for Professional Practice (CPP) is another mechanism through which staff can share their learnings with colleagues. The School’s teaching staff remains committed to supporting QCAA District and State Panels that monitor assessment at Years 11 and 12 during 2019. In addition to this, our academic staff continued to be heavily involved in the quality assurance processes underlying the implementation of the QCE/ATAR system with approximately 30 teachers involved in these rigorous processes during the year. The School’s Manager of e-Learning continued our strategic meaningful technology integration across the curriculum. The School’s approach to such integration is that digital technology is but one of the important processes associated with student learning and growth. The totality of professional development experiences has strengthened both our theoretical and practical understanding of student learning. This has led to the consolidation of well understood approaches to pedagogy as well as the implementation of innovative and creative approaches to both thinking skills and problem solving.
Professional Review The Open Doors Professional Review Cycle (2017–2019) concluded at the end of 2019 with a conversation with either the Principal or one of her delegates. Detailed letters were written to each staff member outlining key learnings and areas for further investigation. The model works well and forms an integral approach to our belief in the transformative power of each one of our teachers vast array of personal pedagogical gifts (PPGs). In 2019, a performance planning and professional development system was utilised for professional staff. This is an integrated system linked to the individual’s position description, performance planning and review, career and professional development planning, rewards and recognition and succession and transition planning. It involved a series of conversations during the year aimed at fostering staff engagement and building staff capability. Documentation of staff professional reviews is kept in staff files managed by Human Resources.
Professional qualifications All members of the teaching staff must maintain Teacher Registration through the Queensland College of Teachers. All staff are encouraged to pursue further professional qualifications to deepen their knowledge and pedagogical expertise. All academic staff have been awarded at least one Bachelor Degree while 33 per cent hold a Master’s Degree. Sixteen (13 academic/3 professional) staff have been awarded Doctorates; two staff members are currently undertaking a Doctorate.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 25 SECTION C—THE SCHOOL’S PERFORMANCE
The School values the knowledge and commitment of its employees and recognises that teacher knowledge and skills contribute significantly to the quality of teaching and learning. The School, therefore, actively supports the professional development of staff which for 2019 included: • a series of regular ‘in-house’ professional development opportunities that occurred on campus throughout the year • professional development workshops took place with external and internal speakers providing presentations to staff • Outdoor Education and Wilderness First Aid training for specialised staff at the School’s Outdoor Education Centre • QCAA State and local panel involvement of the academic staff • the Association of School Business Administrators Executive Leadership Program • Harvard Graduate School Cultures of Thinking (Project Zero) • Project Zero Sydney Network events • Bialik College Cultures of Thinking Conference • ACEL Conference Why some leaders succeed and others fail • TimeSmart Productivity Workshops • Mental Health and Wellbeing Conferences • National Coalition of Girls Schools Conference • First Aid Training. Other management and training activities in which staff have participated, as part of school-funded external professional development, included: • Administration and Communication: Approx. 15 courses/conferences • Information Technology: Approx. 15 courses/conferences • Pedagogy: more than 160 courses/conferences • Pastoral Care: Approx. 16 courses/conferences • Personnel Management and Women’s Leadership: Approx. 8 workshops/conferences • Technology: Approx. 6 courses/workshops • Student Career Support: Approx. 9 courses/workshops One hundred per cent of teaching staff were involved in professional development activities during 2019. The total expenditure on teacher development in 2019 was approximately $187 000—an average of $1385 per teacher. Total expenditure on all staff training was approximately $225 000.
Centre for Professional Practice (CPP) To increase the School’s access to adequately credentialed teaching staff, the CPP provides positive mentoring for intern/student teachers, graduate/early career teachers and coordinates internal professional development experiences. Since its inception in 2004, the CPP has continued to provide opportunities for improving the professional learning of academic staff and pre-service teachers during their practice at the School. The CPP continues to foster close relationships with South East Queensland’s universities to provide opportunities for staff to remain at the forefront of the teaching profession. The CPP facilitates and coordinates the induction and mentoring of pre-service teachers into the School. The School has always taken its responsibility in the area of pre-service teacher education very seriously and is considered to be a leader in practicum development and execution. Pre-service teachers completing practicum experiences are provided with weekly workshops on a range of topics relating to classroom practice and teacher effectiveness. Many staff commenced their teaching careers as a BGGS pre-service teacher, either commencing at the School immediately after university or coming back to the School after a wide array of professional experiences. Additionally, the CPP facilitates internal professional learning programs to build teacher capacity. In recent years this has been linked very closely to the continued unpacking of our School Wide Pedagogy model with a particular focus on Noticing Learning and Cultures of Thinking. This has involved the facilitation of online courses and the development of relationships with a number of outside consultants.
26 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations
SECTION D: DISCLOSURE OF ADDITIONAL MANDATORY INFORMATION 2019
In accordance with the annual report requirements for Queensland Government Agencies, the disclosure of the following additional information is available on the School’s website at www.bggs.qld.edu.au and can also be found on the Queensland Government’s Open Data website at www.data.qld.gov.au • Consultancies • Overseas Travel 28 ANNEXURE A—ORGANISATIONAL STRUCTURE BRISBANE GIRLSGRAMMAR SCHOOL
BOARD OF TRUSTEES
Principal Executive Assistant Reception to Principal
2019Annual ReporttotheMinister forEducation andMinisterfor IndustrialRelations PA to PA to Chief Chief Financial Officer Deputy Principal Deputy Principals Financial Officer Deputy Principal and Board Secretary (Academic)
Director of Human Director of Director of Property & Capital Risk & Dean of Director of Professional Dean of Students Finance Manager Director of IT Resources Communications Development Works Manager Compliance Co-curriculum Dean of Studies Dean of Operations Practice & Engagement Officer
Communications, Alumnae Relations Finance Facilities Directors of Marrapatta Outdoor Human Resources Director Faculty Associate Dean Enrolments, Manager, & Operations Instrumental Music, Education Centre Manager IT Services Information Administrative Tertiary Pathways Directors Events Development Payroll Manager Administrative Manager Systems Manager Support Sports, Service Management Assistant Officer Centre
Director Heads of Administrative Sports Manager, Manager of eLearning Business Analyst, Post Secondary Departments/Subjects Heads of House Assistant, Carpenter, Administrative Officers Data Analyst, Planning Facilities Support Helpdesk Web Systems Officers, Support, Analyst, Horticulturalist, AV Technical LMS Specialist Stores Officer, Support Administration Repairs & Head of Head of Learning Administration Officers School Assistant Teachers Maintenance Co-curriculum Drama Support Psychologists
Academic Data Health Centre Analyst Laboratory Technicians Director
Library Assistants, Information Resource School Nurses Officer, Librarian - Special Collections, Reference Librarian
Student Care Administration Assistant
ANNEXURE B—2019 FINANCIAL STATEMENTS
Board of Trustees of the Brisbane Girls Grammar School
Financial Statements for the Year Ended 31 December 2019
2019 FINANCIAL STATEMENTS
Contents Statement of Comprehensive Income Statement of Financial Position Statement of Changes in Equity Statement of Cash Flows Notes to and forming part of the Financial Statements Certificate of The Board of Trustees of the Brisbane Girls Grammar School
General Information The financial statements are for Brisbane Girls Grammar School as an individual entity. Brisbane Girls Grammar School is a statutory body formed under the Grammar Schools Act 2016. The principal location is Gregory Terrace, Spring Hill, QLD 4000. The principal activity of the School is to provide specialised secondary education to female students. These financial statements were authorised for issue by the Board of Trustees on 20 February 2020.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 29 Board of Trustees of the Brisbane Girls Grammar School Statement of Comprehensive Income for the year ended 31 December 2019
2019 2018 Note $ $ Revenue Tuition fees 33,880,751 32,740,340 Grants and other contributions 2 9,402,597 9,259,162 Other revenue 2 3,689,991 3,494,360 Total Revenue 46,973,339 45,493,862 Expenses Employee expenses 3 28,292,587 27,369,998 Depreciation and amortisation expenses 4 3,571,541 3,292,931 Finance costs 901,200 1,047,416 Supplies and services 3 7,266,236 7,846,432 Other expenses 3 2,862,724 3,492,468 Total Expenses 42,894,288 43,049,245 Operating Surplus 4,079,051 2,444,617 Other Comprehensive Income Items that will not be reclassified subsequently to Operating Surplus Increase in asset revaluation surplus 15 7,479,644 554,009 Total items that will not be reclassified subsequently to Operating Surplus 7,479,644 554,009 Total Other Comprehensive Income 7,479,644 554,009 Total Comprehensive Income 11,558,695 2,998,626
The accompanying notes form part of these financial statements.
2019 Financial Statements | Page 2 of 25
30 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Statement of Financial Position as at 31 December 2019
2019 2018 Note $ $ ASSETS Current Assets Cash and cash equivalents 5 22,221,950 14,524,400 Receivables 6 362,635 847,410 Other financial assets 7 6,397,636 5,520,854 Other current assets 8 1,132,011 742,020 Total Current Assets 30,114,232 21,634,684 Non-Current Assets Property, plant and equipment 9 117,256,914 104,899,626 Intangible assets 5,593 18,106 Total Non-Current Assets 117,262,507 104,917,732 TOTAL ASSETS 147,376,739 126,552,416 LIABILITIES Current Liabilities Payables 10 2,059,300 1,416,604 Financial liabilities 11 3,025,751 2,991,499 Accrued employee benefits 12 2,658,952 2,499,088 Other current liabilities 13 2,209,930 1,537,668 Total Current Liabilities 9,953,933 8,444,859 Non-Current Liabilities Financial liabilities 11 22,782,868 15,225,420 Accrued employee benefits 12 877,375 702,751 Other non-current liabilities 13 3,902,648 1,098,195 Total Non-Current Liabilities 27,562,891 17,026,366 TOTAL LIABILITIES 37,516,824 25,471,225 NET ASSETS 109,859,915 101,081,191 EQUITY Retained earnings 62,436,397 61,137,317 Asset revaluation surplus 15 47,423,518 39,943,874 TOTAL EQUITY 109,859,915 101,081,191
The accompanying notes form part of these financial statements.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 31 Board of Trustees of the Brisbane Girls Grammar School Statement of Changes in Equity for the year ended 31 December 2019
Retained Asset Revaluation Total Earnings Surplus (Note 15) Note $ $ $ 2018 Balance at the beginning of the year 58,692,700 39,389,865 98,082,565 Operating surplus from continuing operations 2,444,617 - 2,444,617 Other comprehensive income: • Increase in Asset revaluation surplus 15 - 554,009 554,009 Balance at the end of the year 61,137,317 39,943,874 101,081,191 2019 Balance at the beginning of the year 61,137,317 39,934,874 101,081,191 Adjustment from the adoption of AASB 15 – 1(g) (2,776,288) - (2,776,288) Revenue from customer contracts Adjustment from the adoption of AASB 16 - Leases 1(g) (3,683) - (3,683) Adjusted Opening Balance at the beginning of the 58,357,346 39,943,874 98,301,220 year Operating surplus from continuing operations Other comprehensive income: 4,079,051 - 4,079,051 • Increase in Asset revaluation surplus 15 - 7,479,644 7,479,644 Balance at the end of the year 62,436,397 47,423,518 109,859,915
The accompanying notes form part of these financial statements.
2019 Financial Statements | Page 4 of 25
32 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Statement of Cash Flows for the year ended 31 December 2019
2019 2018 Note $ $ CASH FLOWS FROM OPERATING ACTIVITIES Receipt of tuition fees 34,371,964 32,956,138 Receipt of grants - State 2,971,601 3,045,187 Receipt of grants - Commonwealth 5,708,656 5,907,238 Receipt of rent 85,138 86,998 Interest received 487,648 546,405 GST input tax credits from ATO 1,065,414 522,944 Other receipts 4,428,721 3,484,158 Payments to employees (27,682,772) (27,112,148) Payments to suppliers (11,561,602) (11,553,222) GST remitted to ATO (149,304) (188,926) Finance costs (900,356) (1,047,416) Net cash provided by /(used in) operating activities 8,825,108 6,647,355 CASH FLOWS FROM INVESTING ACTIVITIES Proceeds from sale of property, plant and equipment 27,273 705 Purchase of property, plant and equipment (7,978,108) (2,729,816) Purchase of other financial assets - (880,000) Net cash provided by /(used in) investing activities (7,950,835) (3,609,111) CASH FLOWS FROM FINANCING ACTIVITIES Repayment of borrowings (3,176,723) (2,826,519) Advances from borrowings 10,000,000 - Net cash provided by /(used in) financing activities 6,823,277 (2,826,519)
Net increase /(decrease) in cash and cash equivalents 7,697,550 211,725 Cash and cash equivalents at beginning of financial year 14,524,400 14,312,675 Cash and cash equivalents at end of financial year 5 22,221,950 14,524,400
The accompanying notes form part of these financial statements.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 33 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
OBJECTIVE & GUIDING PRINCIPLES The objective of Brisbane Girls Grammar School is to provide specialised secondary education to female students. The guiding principles of the School, as presented in the School's Strategic Design, are systematic curiosity in teaching, learning and research, judicious and ethical action, life-wide learning, stewardship and sustainability and purposeful community engagement. NOTES TO AND FORMING PART OF THE FINANCIAL STATEMENTS 2019 Note 1 - Summary of Significant Accounting Policies Note 2 - Revenue Note 3 - Expenses Note 4 - Depreciation & Amortisation Note 5 - Cash & Cash Equivalents Note 6 - Receivables Note 7 - Other Financial Assets Note 8 - Other Assets Note 9 - Property, Plant & Equipment Note 10 - Payables Note 11 - Financial Liabilities Note 12 - Accrued Employee Benefits Note 13 - Other Liabilities Note 14 - Financial Instruments Note 15 - Asset Revaluation Surplus by Class Note 16 - Capital and Leasing Commitments Note 17 - Key Management Personnel Note 18 - Contingent Liabilities and Assets Note 19 - Events Occurring after Balance Date Note 20 - Related Party Transactions
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Statement of Compliance The School is a not for profit entity and these financial statements are general purpose financial statements that have been prepared in accordance with the Financial Accountability Act 2009, the Financial and Performance Management Standard 2019, Australian Accounting Standards - Reduced Disclosure Requirements and Interpretations applicable to not for profit entities and the Australian Charities and Not-for-profits Commission Act 2012 and the Australian Charities and Not-for-profits Commission Regulations 2013. The financial statements have been prepared on an accruals basis and under the historical cost convention, except for certain classes of property, plant and equipment which are measured at fair value. The accounting policies have been consistently applied, unless otherwise stated. (b) The Reporting Entity Brisbane Girls Grammar School consists of the School, together with Brisbane Girls Grammar School Library Fund, the Brisbane Girls Grammar School Building Fund and the Brisbane Girls Grammar School Scholarships and Bursaries Fund. The Financial Statements include the value of all revenues, expenses, assets, liabilities and equity of the School. (c) Income Tax The School is exempt from income tax under Subdivision 50-B of the Income Tax Assessment Act 1997. (d) Goods and Service Tax Revenues, expenses and assets are recognised net of the amount of GST, except where the amount of GST incurred is not recoverable from the Australian Taxation Office. In these circumstances the GST is recognised as part of the cost of acquisition of the asset or as part of an item of the expense. Receivables and payables in the Statement of Financial Position are shown inclusive of GST. Cash flows are presented in the Statement of Cash Flows on a gross basis, except for the GST component of investing and financing activities, which are disclosed as operating cash flows.
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34 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd) (e) Accounting Estimates and Judgements Estimates and assumptions that have a potential significant effect are outlined in the following financial statement notes: • Provision for Doubtful Debts - Note 6 • Valuation of Property, Plant and Equipment - Note 9 • Accrued Employee Benefits - Note 12 (f) Other Presentation Matters Currency and Rounding Amounts included in the financial statements are in Australian dollars. Amounts are rounded to the nearest dollar. Comparatives Comparative information reflects the audited 2018 financial statements unless otherwise stated. Current / Non-current Classification Assets are classified as 'current' where their carrying amount is expected to be realised within 12 months after the reporting date. Liabilities are classified as 'current' when they are due to be settled within 12 months after the reporting date, or the School does not have an unconditional right to defer settlement to beyond 12 months after the reporting date. All other assets and liabilities are classified as non-current. (g) Adoption of New and Revised Accounting Standards In the current period, the School has adopted all of the new and revised standards and interpretations issued by the AASB that are relevant to its operations and effective for the current reporting period. These include, AASB 15 Revenue from Contracts with Customers, AASB 1058 Income of Not for Profit Entities and AASB 16 Leases. The School has set out the impact in respect to the adoption of these new and revised standards and interpretations. The initial application date of 1 January 2019. Note Income Statement Impact of Impact of Income under previous AASB 15 and AASB 16 Statement accounting AASB 1058 under new Standard accounting Standard Other Revenue 2 3,925,564 (235,573) 3,689,991 Operating lease expense (205,127) - 205,127 - Finance cost – Lease 9 - - (13,273) (13,273) Liability Amortisation Expense – 9 - - (196,125) (196,125) Right-of-Use Asset Total comprehensive 11,789,539 (235,573) (4,271) 11,558,695 income
Note Balance Sheet Impact of Impact of Balance Sheet under previous AASB 15 AASB 16 under new accounting and AASB accounting Standard 1058 Standard Right-of-use Asset 9 - 768,422 768,422 Accumulated 9 - - (196,125) (196,125) Amortisation Right-of- Use Asset Lease Liability - 11 - - (249,159) (249,159) (Current) Lease Liability - 11 (331,092) (331,092) (Non-Current) Unearned Fee Income 13 (3,011,867) (3,011,867) Retained Earnings (65,456,219) 3,011,867 7,954 (62,436,397)
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 35 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
AASB 15 – Revenue from Contracts with Customers AASB 15 sets out requirements to assess contracts with customers for specific, enforceable performance obligations and where applicable recognise income if those obligations are satisfied. The adoption of AASB 15 has resulted in an adjustment to the School’s treatment of non-refundable and non-transferable confirmation fees received from customers (parents). Previously confirmation fees paid have been recognised as revenue in the year that they have been received. Upon applying AASB 15 an enforceable contract exists between the School and the customer that guarantees future tuition for the prospective student to commence in the agreed upon year and for the period of the tuition contract up to 6 years. The confirmation fee does not represent a distinct performance obligation but is instead an advance fee payment for future tuition services and will now be recognised on a straight line basis over the estimated tuition contract being 6 years. The new standard has been applied using the modified retrospective approach with the cumulative effect of adopting AASB 15 being recognised as an adjustment to the opening balance of retained earnings for the current period. Prior periods have not been restated. The following is a deferred revenue calculation as at 1 January 2019 due to changes to revenue recognition of confirmation fees: 2019 Students in attendance during 2019 – Deferred confirmation fee revenue 1,554,088 Future students commencing after 1 January 2020 – Deferred confirmation fees 1,222,200 Total Opening Deferred Revenue - Confirmation Fees 2,776,288
AASB 1058 – Income of Not-for-Profit Entities AASB 1058 applies to transactions of a not-for-profit entity where the consideration to acquire an asset is significantly less than fair value principally to further its objectives. Under the new income recognition model, the School has first considered AASB 15. Where AASB 15 does not apply to a certain stream of revenue for the School, it has then been assessed for AASB 1058. There are no items of revenue measurement that will be impacted by AASB 1058 that have been identified. AASB 16 – Leases The adoption of this AASB 16 has resulted in the recognition of a right-of-use asset representing of the School’s right to use the underlying asset and a related lease liability representing the obligation to make lease payments in connection with all former operating leases except for those identified as low-value or having a remaining lease term of less than 12 months from the date of initial application. The new standard has been applied using the modified retrospective approach with the cumulative effect of adopting AASB 16 being recognised as an adjustment to the opening balance of retained earnings at the date of initial application. Prior periods have not been restated. The following is a reconciliation of the financial statement line items upon adoption of AASB 16 at 1 January 2019
Carrying Amount at 31 Re-measurement AASB 16 carrying amount December 2018 at 1 January 2019 Property, Plant and Equipment - 383,019 383,019 Financial Liabilities - (386,702) (386,702) Total - (3,683) (3,863)
For contracts in place at the date of initial application, the School has elected to apply the definition of a lease from AASB 117 - Leases and has not applied AASB 16 to arrangements that were not previously identified as a lease. The School has elected to measure right-of-use assets at their carrying amounts, calculated from the respective leases original commencement date. Current operating lease rental payments will no longer be expensed in the statement of comprehensive income. They will be apportioned between a reduction in the recognised lease liability and the implicit finance charge (the effective rate of interest) in the lease. The finance cost will also be recognised as an expense.
2019 Financial Statements | Page 8 of 25
36 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd) On transition, for leases previously accounted for as operating leases with a remaining lease term of less than 12 months and for leases of low-value assets (value lower than $10,000) the School has applied the optional exemption to not recognise right- of-use assets but to account for the lease expense on a straight line basis over the remaining lease term. On transition the weighted average incremental borrowing rate applied to lease liabilities recognised under AASB 16 was 2.41% - 2.44%
Note 2 REVENUE 2019 2018 $ $ Grants and other contributions Endowment and State grants 2,971,601 3,045,187 Commonwealth grants 5,189,687 5,370,216 Donations - cash 1,241,309 843,759 9,402,597 9,259,162 All of the grants received from Commonwealth and State Governments are non-reciprocal in nature.
Other revenue Enrolment fees 269,132 278,725 Confirmation fees 552,827 678,800 Investment income 487,648 546,405 Dividends and distributions received 255,812 223,529 Gain on fair value of financial asset 648,238 - Rental income 77,399 79,089 Cost recovery income 690,251 967,830 Other income 708,684 719,982 3,689,991 3,494,360 Accounting Policy Revenue Grants, contributions, donations and gifts with no sufficient performance obligations are recorded under AASB 1058 upon receipt when the School obtains control over the funds. Rental income from operating leases is recognised in income on a straight-line basis over the lease term. All revenue is stated net of the amount of goods and services tax (GST). Tuition Fee Revenue Revenue from the rendering of services, being tuition, is recognised over the period in which the service relates (over the relevant school year to which tuition fees relate). Revenue from enrolments is recognised when received as the single performance obligation is met. Non-refundable confirmation fees have been adjusted and recognised in the 2019 financial year upon application of AASB 15 as set out see Note 1.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 37 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 3 EXPENSES 2019 2018 $ $ Employee benefits Salaries and wages 24,241,633 23,442,167 Employer superannuation contributions 3,019,712 2,893,180 Long service leave and annual leave expense 668,922 629,341 Other employee benefits 225,504 239,957 Employee related expenses Workers' compensation premium 136,816 165,353 28,292,587 27,369,998
Full time equivalent staff As at the reporting date, the School's full time equivalent staff was 203 (2018: 206.3) Accounting Policy Short-term employee benefits - Wages, Salaries and Sick Leave Wages and salaries due but unpaid at reporting date are recognised in the Statement of Financial Position at the current salary rates. As the School expects such liabilities to be wholly settled within 12 months of reporting date, the liabilities are recognised at their undiscounted values. Prior history indicates that on average, sick leave taken each reporting period is less than the entitlement accrued. This is expected to continue in future periods. Accordingly, it is unlikely that existing accumulated entitlements will be used by employees and no liability for unused sick leave entitlements is recognised. As sick leave is non-vesting, an expense is recognised for this leave as it is taken. Other long-term employee benefits - annual and long service leave Annual leave and long service leave liabilities are classified and measured as other long-term employee benefits as the School does not expect to wholly settle all such liabilities within 12 months following reporting date. Other long-term employee benefits are presented as current liabilities where the School does not have an unconditional right to defer payment for at least 12 months after the end of the reporting period. Other long-term employee benefits are measured at the present value of the expected future payments to be made to employees. Expected future payments take into account anticipated future wage/salary levels, expected employee departures and periods of ineligible service. These are discounted using market yields on Australian Government bond rates at the end of the reporting period that coincide with the expected timing of estimated future payments. All directly associated on-costs (e.g. employer superannuation contributions and workers' compensation insurance) are also recognised as liabilities, where these on-costs are material. Superannuation Contributions are made by the School to employee superannuation funds and are charged as expenses when incurred.
Note 2019 2018 $ $ Supplies and services Repairs and maintenance 1,972,812 2,217,200 Administration expenses 1,671,868 1,751,223 Tuition expenses 1,457,960 1,461,639 Professional and legal fees 552,266 625,450 Minor plant and equipment 585,456 656,199 Insurance 495,067 445,933 Operating leases 9 279,271 444,997 Printing and stationery 217,036 213,791 External audit fees 34,500 30,000 7,266,236 7,846,432
2019 Financial Statements | Page 10 of 25
38 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 3 EXPENSES (Cont'd) Accounting Policy Remuneration of Auditor Total external audit fees as quoted in the External Audit Plan for the 2019 financial year was $34,500 (2018: $30,000). There are no non-audit services included in this amount.
2019 2018 $ $ Other expenses Bad debts and doubtful debts 22,380 76,701 IT expenses 798,934 741,394 Loss on disposal property, plant and equipment 11,619 - Loss on financial assets - 386,604 Cost recovery expenses 667,384 1,042,760 Other 1,362,407 1,245,009 2,862,724 3,492,468
Note 4 DEPRECIATION AND AMORTISATION 2019 2018 $ $ Buildings 3,117,663 3,011,454 Investment property - 51,822 Plant and equipment (including right of use assets) 9 441,364 217,142 Intangible assets 12,514 12,513 3,571,541 3,292,931
Accounting Policy Depreciation The depreciable amount of all fixed assets including buildings but excluding land and antiques and art collection (as it has an indefinite useful life) is depreciated on a straight-line basis over the asset's useful life commencing from the time the asset is held ready for use.
The depreciation rates used for each class of depreciable assets are: Class of Fixed Asset Depreciation Rate Buildings and improvements 2.0% - 20.0% Plant and equipment (including right-of-use asset) 5.0% - 33.0% The assets' residual values and useful lives are reviewed at the end of each reporting period. An asset's carrying amount is written down to its recoverable amount if the asset's carrying amount is greater than its estimated recoverable amount. Property, plant and equipment assets are not depreciated until they are available for use. Assets under construction (work in progress) are reclassified to the relevant classes within property, plant and equipment when they are available for use.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 39 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 5 CASH AND CASH EQUIVALENTS
2019 2018 Cash at bank $ $ General Fund 890,462 965,292 Restricted Fund 1,000 1,024 Future Fund 2,800 26,872 Building Fund 6,181 319,165 Library Fund 1,051 1,000 Scholarships and Bursaries Fund 2,023 21,860 Cash on hand 6,877 5,877 910,394 1,341,090 Deposits at call General Fund 14,428,043 9,212,502 Restricted Fund 1,832,008 1,162,368 Future Fund 3,483,033 2,592,061 Building Fund 1,434,879 130,140 Library Fund 10,960 10,034 Scholarships and Bursaries Fund 122,633 76,205 21,311,556 13,183,310 22,221,950 14,524,400
Accounting Policy Cash and Cash Equivalents Cash assets include cash on hand, cash at bank and at call deposits with banks or financial institutions and investments in money market instruments maturing in less than three months. The funds identified above in Cash and Cash Equivalents contain the following restrictions: Restricted Funds Restricted funds comprise bequests and donations where the funds received are used for the purposes specified by the donor. Future Fund The object of the fund is to accumulate monies to be used to realise exceptional strategic opportunities which would be of enduring benefit to the School and would not otherwise be funded on a 'business as usual' basis. Building Fund The object of the fund is to raise and provide monies for the acquisition, construction and maintenance by the Board of a building or buildings used as part of the Brisbane Girls Grammar School. Library Fund The object of the fund is to raise and provide funds for the purchase of library resources. Scholarships and Bursaries Fund The object of the fund is to provide bursaries and scholarships to attend Brisbane Girls Grammar School.
2019 Financial Statements | Page 12 of 25
40 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 6 RECEIVABLES 2019 2018 $ $ Tuition fees 57,050 94,540 Provision for impairment (17,687) (51,736) 39,363 42,804 Commercial debtors 45,396 597,473 Provision for impairment (17,560) (21,310) 27,836 576,163 GST refundable 295,436 228,443 362,635 847,410 Movement in the provision for impairment: Balance at 1 January 73,046 140,960 Additional provision raised 26,130 76,701 Amounts written off (14,697) (118,845) Amounts collected (49,232) (25,770) Balance at 31 December 35,247 73,046
Accounting Policy Receivables Trade debtors are recognised at the amounts due at the time of service delivery. All known bad debts were written-off as at 31 December. The collectability of receivables is assessed periodically with provision being made for impairment. Increases in the allowance for impairment are based on any expected losses. Impairment of Receivables The School recognises an allowance for expected credit losses (ECLs) for all trade and other receivables. The School applies the simplified approach in calculating ECLs as permitted by AASB 9. Therefore, the School recognises a loss allowance based on lifetime ECLs at each reporting date. The School has established a provision matrix that is based on its historical credit loss experience, adjusted for forward-looking factors specific to the debtors and the economic environment. If the School determines that an amount owing by such a debtor does become uncollectable (after appropriate range of debt recovery actions), that amount is recognised as a Bad Debt expense and written-off directly against Receivables. In other cases where a debt becomes uncollectible but the uncollectible amount exceeds the amount already allowed for impairment of that debt, the excess is recognised directly as a Bad Debt expense and written-off directly against Receivables.
Note 7 OTHER FINANCIAL ASSETS Financial assets at fair value through profit and loss 2019 2018 $ $ Future Fund - QIC Investment 5,440,579 4,694,960 Scholarships and Bursaries Fund - QIC Investment 957,057 825,894 6,397,636 5,520,854
QIC investments are reviewed by the School throughout the year and can be redeemed on an at-call basis at the market value of the investment at the date of redemption less certain fees and charges.
Page 13 of 25 | 2019 Financial Statements
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 41 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 7 OTHER FINANCIAL ASSETS (Cont’d)
Movement in other financial assets: 2019 2018 $ $ Balance at 1 January 5,520,854 4,830,293 Purchases - 880,000 Distributions reinvested 255,812 223,529 Loss on fair value - (386,604) Gain on fair value 648,238 - Management fees (27,268) (26,364) Balance at 31 December 6,397,636 5,520,854
Accounting Policy Financial assets at fair value through profit and loss Financial assets are to be measured at fair value through profit or loss unless an irrevocable election is made to measure at amortised cost or at fair value through other comprehensive income. The School measures its other financial assets to enable performance evaluation where a group of financial assets is managed by key management personnel on a fair value basis in accordance with a documented risk management or investment strategy. Such assets are subsequently measured at fair value, with changes in carrying value being included in profit or loss. Fair value is determined based on current bid prices for all quoted investments.
Note 8 OTHER ASSETS 2019 2018 $ $ CURRENT Prepayments 1,042,142 679,332 Deposits 89,869 62,688 1,132,011 742,020
Note 9 PROPERTY, PLANT AND EQUIPMENT 2019 2018 $ $ LAND At fair value 17,490,000 17,490,000 17,490,000 17,490,000 BUILDINGS AND IMPROVEMENTS At fair value 127,426,877 118,119,590 127,426,877 118,119,590 Accumulated depreciation (37,357,760) (33,470,918) 90,069,117 84,648,672 PLANT AND EQUIPMENT At cost 4,203,319 2,960,191 Accumulated depreciation (2,527,439) (2,182,298) 1,675,880 777,893 ANTIQUES AND ART COLLECTION Antiques and art collection at fair value 347,346 290,946 WORK IN PROGRESS Work in progress - at cost 7,674,571 1,692,115 TOTAL PROPERTY, PLANT AND EQUIPMENT 117,256,914 104,899,626
2019 Financial Statements | Page 14 of 25
42 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 9 PROPERTY, PLANT AND EQUIPMENT (Cont'd) Property, Plant and Equipment Accounting Policy Actual cost is used for the initial recording of all non-current physical asset acquisitions. Cost is determined as the value given as consideration plus costs incidental to the acquisition, including all other costs incurred in getting the assets ready for use. Assets acquired at no cost or for nominal consideration are recognised at their fair value at date of acquisition. Items of property, plant and equipment with a cost or other value equal to or in excess of the following thresholds are recognised for financial reporting purposes in the year of acquisition: Buildings and improvements $10,000 Land $1 Plant and equipment $5,000 Art collection and antiques $5,000 Items with a lesser value are expensed in the year of acquisition. Each class of property, plant and equipment is carried at cost or fair value as indicated less, where applicable, any accumulated depreciation and impairment losses. Useful lives of property, plant and equipment The School assesses the useful lives of property, plant and equipment based on the assets expected utility to the School. An assessment of the useful life of each asset has been based on a physical inspection of the assets and for those assets revalued, the independent valuer’s experience. Fair Value of Land, Buildings and Improvements The School has Land, Buildings and Improvements with a carrying value of $107,559,117 (2018: $102,138,672) representing estimated fair value. The School’s properties were subject to an independent valuation as at 31 December 2019 (Independent valuer: JLL Pty Ltd). In determining the fair value, the direct comparison approach for land values and the current replacement cost approach for buildings, improvements and the market approach for the Bread House property and art work has been applied. Revaluation of Non-Current Physical Assets Land, buildings and improvements are measured at their fair value, less subsequent depreciation for buildings and improvements. It is the policy of the School to have an independent valuation conducted every three years. A comprehensive valuation was conducted by the School's independent valuer in 2019. In reporting periods where assets have not been specifically appraised, their previous valuations are materially kept up to date via the application of relevant indices. The School ensures that the application of such indices results in a valid estimation of the assets' fair values at reporting date. The School's independent valuer supplies these indices to the School which is used for the various types of assets. These indices are either publically available or are derived from market information available to the valuers. The independent valuers have provided assurance to the School of the indices' robustness, validity and appropriateness for application to the relevant assets. It is the policy of the School that indexed revaluation of assets will only be accounted for in the School's financial statements if the cumulative change in the index results in a 5% or greater change in the reported asset balances. Indexations assessed by the independent valuer indicate no revaluation adjustments would be required for the current year (i.e. all indexations are less than 5%) in accordance with the Non-Current Asset Policies for Queensland Public Sector (NCAP) 3 Valuation of Assets. The Board of Trustees of the School review the carrying value of Land, Buildings and Improvements at each balance date, to confirm that it materially represents their fair value. Any revaluation increment arising on the revaluation of an asset is credited to the asset revaluation surplus of the appropriate class, except to the extent it reverses a revaluation decrement for the class previously recognised as an expense. A decrease in the carrying amount on revaluation is charged as an expense, to the extent it exceeds the balance, if any, in the revaluation surplus relating to that asset class. Impairment All non-current physical and intangible assets are assessed for indicators of impairment on an annual basis or, where the asset is measured at fair value, for indicators of a change in fair value/service potential since the last valuation was completed. Where indicators of a material change in fair value or service potential since the last valuation arise, the asset is revalued at the reporting date under AASB 13 Fair Value Measurement. If an indicator of possible impairment exists, the School determines the asset's recoverable amount under AASB 136 Impairment of Assets. Recoverable amount is equal to the higher of the fair value less costs of disposal and the asset's value in use subject to the following:
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 43 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 9 PROPERTY, PLANT AND EQUIPMENT (Cont'd) • As a not-for-profit entity, certain property, plant and equipment of the School is held for the continuing use of its service capacity and not for the generation of cash flows. Such assets are typically specialised in nature. In accordance with AASB 136, where such assets measured at fair value under AASB 13, that fair value (with no adjustment for disposal costs) is effectively deemed to be the recoverable amount. Consequently, AASB 136 does not apply to such assets unless they are measured at cost. • For other non-specialised property, plant and equipment measured at fair value, where indicators of impairment exist, the only difference between the asset’s fair value and its fair value less costs of disposal is the incremental costs attributable to the disposal of the asset. Consequently, the fair value of the asset determined under AASB 13 will materially approximate its recoverable amount where the disposal costs attributable to the asset are negligible. After the revaluation requirements of AASB 13 are first applied to these assets, applicable disposal costs are assessed and, in the circumstances where such costs are not negligible, adjustments to the recoverable amount are made in accordance with AASB 136. For all other remaining assets (including intangible assets) measured at cost, recoverable amount is equal to the higher of the fair value less costs of disposal and the asset's value in use. Value in use is equal to the present value of the future cash flows expected to be derived from the asset, including the estimated net disposal proceeds. An impairment loss is recognised immediately in the Statement of Comprehensive Income, unless the asset is carried at a revalued amount. When the asset is measured at a revalued amount, the impairment loss is offset against the asset revaluation surplus of the relevant class to the extent available. Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is recognised as income, unless the asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase. Plant and Equipment Plant and Equipment includes right of use assets (refer right-of-use assets Policy Note 9) and are measured at cost less accumulated depreciation and impairment losses. The carrying amount of plant and equipment is reviewed annually to ensure it is not in excess of the recoverable amount from these assets. Antiques and Art Collections Antiques and Art Collections are measured at fair value. Movements in Carrying Amounts Movement in the carrying amounts for each class of property, plant and equipment between the beginning and end of the financial year: Land Buildings and Plant & Antiques and Work in TOTAL Improvements Equipment Art Collection progress $ $ $ $ $ $ Carrying amount at 1/01/2019 17,490,000 84,648,673 777,893 290,946 1,692,115 104,899,627 Adjustment on transition to AASB16 - - 383,019 - - 383,019 Additions - 335,352 1,281,950 - 6,531,208 8,148,510 Depreciation - (3,117,663) (441,364) - - (3,559,027) Disposals - - (20,332) - (74,527) (94,859) Transfers - 779,511 (305,286) - (474,225) - Revaluation increments - 7,423,244 - 56,400 - 7,479,644 Carrying amount at 31/12/2019 17,490,000 90,069,117 1,675,880 347,346 7,674,571 117,256,914
Right-of-use assets
Leases Leases are recognised as a right-of-use asset and a corresponding liability at the date of which the leased asset is available for use by the School. The lease liability arising from the lease are measured on a present value basis discounted using the incremental borrowing rate applicable. Right-of-use assets are measured at their carrying amounts, calculated from the respective leases original commencement date.
2019 Financial Statements | Page 16 of 25
44 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 9 PROPERTY, PLANT AND EQUIPMENT (Cont'd) The School leases computer and photocopying equipment. The contracts are fixed term renewable on average every three years. There are no contingent rental or escalation clauses in the contracts. With the exception of short term leases and leases of low value underlying assets, each lease is reflected in the balance sheet as a right-of-use asset and a lease liability. Included in the carrying amount of property, plant and equipment are right-of-use assets as follows: 2019 IT Equipment at cost 454,452 Accumulated amortisation (99,310) 355,142 Photocopying Equipment at cost 313,970 Accumulated amortisation (96,815) 217,155 Total right-of-use assets 572,297
Additional information on the right-of-use asset by class of asset is as follows: Photocopying IT Equipment TOTAL Equipment Recognition of Right of use asset 1 January 2019 69,049 313,970 383,019 Additions 385,403 - 385,403 Amortisation (99,310) (96,815) (196,125) Total right-of-use assets 355,142 217,155 572,297
The table below describes the nature of the School’s leasing activities by type of right-of-use asset recognised on the balance sheet: No of right-of-use Average Remaining Right-of-use assets assets leased Lease Term IT Equipment 4 2-3 years Photocopying Equipment 23 3 years
Lease liabilities are presented in the statement of financial position as follows: 2019 1 January 2019 $ $ Lease Liabilities Current 249,159 119,199 Non-current 331,092 267,503 580,251 386,702
The statement of comprehensive income shows the following amounts relating to leases: 2019 2018 $ $ Depreciation charge of right-of-use assets IT Equipment 99,310 - Photocopying Equipment 96,815 - 196,125 -
Interest Expense (included in Finance Costs) 13,273 Expenses relating to leases of low-value assets (included in Supplies and 144,085 Service expenses) Expenses relating to short-term leases (included in Supplies and Service 31,045 expenses) The total cash flow for leases in 2019 was $384,528
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 45 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 9 PROPERTY, PLANT AND EQUIPMENT (Cont'd)
The following is a reconciliation of total operating lease commitments at 31 December 2018 (as disclosed in the financial statements to 31 December 2018, refer Note 16) to the lease liabilities recognised at 1 January 2019.
Operating lease commitments disclosed at 31 December 2018 16 632,917 • Leases of low value assets (207,576) • Leases with remaining lease terms of less than 12 months (31,045) Total other adjustments (238,621) Operating lease liabilities before discounting 394,296 Discounted using incremental borrowing rate (7,594) Operating lease liabilities 386,702 Total lease liabilities recognised under AASB 16 at 1 January 2019 386,702
The lease liabilities are secured by the related underlying assets. Future minimum lease payments at 31 December 2019 were as follows:
Within 1 Year 1-2 Year 2-3 Years Total 31 December 2019 Lease Payments 260,783 256,518 80,354 597,655 Finance Charges (11,622) (5,336) (445) (17,403) Net Present Values 249,161 251,182 79,909 580,252
The School has elected not to recognise a lease liability for short-term leases (leases with an expected term of 12 months or less) or for leases of low value assets. The expense relating to payments not included in the measurement of the lease liability is as follows: 31 December 2019 Short Term Leases 31,045 Leases of Low Value Assets 144,085 Total 175,130
Work in Progress Work in Progress largely comprises consulting, design and construction costs for the School's Gregory Terrace East Wing Project (Science Learning Centre). Deed of Grant in Trust The land at Spring Hill is held under Deed Of Grant of land In Trust (DOGIT) (Area: 2.18 Hectares). Independent valuations received have special regard to the fact that the property held under DOGIT is considered an inferior title to freehold due to the restrictive covenants. Land with a total value of $9.4m is subject to a Deed of Grant in Trust (DOGIT). The land is retained by the Crown, however, the economic benefit of this land accrued to the Board of Trustees of the Brisbane Girls Grammar School and the land is administered by the School.
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46 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 10 PAYABLES Note 2019 2018 $ $ Trade payables and accruals 1,989,205 1,316,842 Other 70,095 99,762 2,059,300 1,416,604 Accounting Policy Payables Trade creditors are recognised upon receipt of the goods or services ordered and are measured at the nominal amount. Amounts owing are unsecured and are generally settled on 30 day terms.
Note 11 FINANCIAL LIABILITIES 2019 2018 $ $ CURRENT Unsecured liabilities Right of Use lease liability 9 249,159 - QTC loans 2,776,592 2,991,499 3,025,751 2,991,499 NON-CURRENT Unsecured liabilities Right of use lease liability 9 331,093 - QTC loans 22,451,775 15,225,420 22,782,868 15,225,420
The market value of Financial Liabilities is $28,201,720 (31 December 2018: $20,202,307). All borrowings are in AUD and no interest has been capitalised during the current or comparative reporting period. The School has not defaulted on or breached any loan agreement during the period. During the 2019 financial period a new loan facility of $ 22.5 million was secured, to support the Gregory Terrace East Wing Project (Science Learnings Centre), $10 million was drawn down on this facility by the School at the end of December 2019. Interest rates on borrowings range from 2.02% - 6.96%.
Note 12 ACCRUED EMPLOYEE BENEFITS 2019 2018 $ $ CURRENT Annual Leave 589,945 589,091 Long Service Leave 2,069,007 1,909,997 2,658,952 2,499,088 NON-CURRENT Long Service Leave 877,375 702,751 Aggregate employee benefits liability 3,536,327 3,201,839
Accounting Policy Accrued Employee Benefits Provision is made for the School's liability for employee benefits arising from services rendered by employees to balance date. Liabilities are to be classified as current when they are due to be settled within 12 months after the reporting date, or there is no unconditional right to defer settlement of a liability for at least twelve months after the end of the reporting period. As employees are entitled to long service leave benefits after 7 years of employment there is no unconditional right to defer settlement so the full value of this entitlement is to be classified as a current liability. Employee benefits payable later than one year have been measured at the present value of the estimated future cash outflows to be made for those benefits. Those cash flows are discounted using market yields on national government bonds with terms to maturity that match the expected timing of cash flows. Current wage rates and expected wage increases have been used in the calculation of these provisions.
Page 19 of 25 | 2019 Financial Statements
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 47 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 12 ACCRUED EMPLOYEE BENEFITS (Cont’d)
Long service leave liabilities are estimated with reference to the minimum period of qualifying service. For employees with less than the required minimum period of 7 years of qualifying service, the probability that they will reach the required minimum period of service has been taken into account in estimating the long service leave liability. All directly associated on-costs (eg. employer superannuation contributions and workers compensation insurance) are also recognised as liabilities, where these on-costs are material. Note 13 OTHER LIABILITIES 2019 2018 $ $ CURRENT Confirmation Fees 447,064 - Deposits on tuition 1,762,866 1,537,668 2,209,930 1,537,668 NON-CURRENT Confirmation Fees 2,564,803 - Deposits on tuition 1,337,845 1,098,195 3,902,648 1,098,195 Aggregate deposits on tuition liability 6,112,578 2,635,863
Accounting Policy
Non-refundable confirmation fees which represents acceptance of an offer for enrolment at the School have been adjusted and recognised in the 2019 financial year upon application of AASB 15 as set out see Note 1.
Note 14 FINANCIAL INSTRUMENTS Initial recognition Financial assets and financial liabilities are recognised in the Statement of Financial Position when the School becomes party to the contractual provisions of the financial instrument. With the exception of trade receivables that do not contain a significant financing component or for which the School has applied the practical expedient, the School initially measures a financial asset at its fair value. Classification and Presentation Financial assets are classified, at initial recognition, as subsequently measured at amortised cost, fair value through other comprehensive income (OCI), and fair value through profit or loss. The classification of financial assets at initial recognition depends on the financial asset’s contractual cash flow characteristics and the School’s business model for managing them. Financial liabilities are classified, at initial recognition, as financial liabilities at fair value through profit or loss, loans and borrowings, or as payables, as appropriate.
Note 2019 2018 Financial instruments are classified under Accounting Standard AASB 9 as follows: Financial Assets $ $ Cash and Cash Equivalents at fair value through profit and loss 5 22,221,950 14,524,400 Receivables at amortised costs 6 362,635 847,410 Other Financial Assets at fair value through profit and loss 7 6,397,636 5,520,854 28,982,221 20,892,664
Financial Liabilities $ $ Payables at amortised cost 10 2,059,300 1,416,604 Borrowings at amortised cost 11 25,228,367 18,216,919 27,287,667 19,633,523
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48 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 15 ASSET REVALUATION SURPLUS BY CLASS
Land Buildings and Antiques and Art Total Improvements collection $ $ $ $ Carrying amount at 1/01/2018 10,187,061 29,118,175 84,629 39,389,865 Revaluation increments 267,946 286,063 - 554,009 Carrying amount at 31/12/2018 10,455,007 29,404,238 84,629 39,943,874
Land Buildings and Antiques and Art Total Improvements collection $ $ $ $ Carrying amount at 1/01/2019 10,455,007 29,404,238 84,629 39,943,874 Revaluation - 7,423,244 56,400 7,479,644 Carrying amount at 31/12/2019 10,455,007 36,827,482 141,029 47,423,518
Note 16 CAPITAL AND OPERATING LEASE COMMITMENTS
Capital expenditure commitments 2019 2018 Capital amounts contracted but not provided for in the financial statements: $ $ • due not later than one year 18,750,631 1,339,106 • later than one year and not later than five years - 378,225 Capital expenditure commitments comprises primarily contracted amounts for consulting and construction costs for the School's Gregory Terrace East Wing Project. During 2019, the School entered into a contract for the purchase of land (45.6ha) at Imbil, Queensland. The deposit is recorded in Prepayments (Note 8) with the balance of $220,000 plus GST due for payment in 2020.
Leasing commitments Non-cancellable leases contracted for but not capitalised in the financial statements Payable - minimum lease payments • not later than one year 152,952 266,554 • later than one year and not later than five years 71,568 366,363 224,520 632,917
The 2019 leasing commitments balance of $224,520 includes those lease commitments excluded from recognition under AASB16. (Low value assets and short term leases.) Refer to note 9 for a reconciliation of total operating lease commitments at 31 December 2018 to the lease liabilities recognised at 1 January 2019.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 49 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 17 KEY MANAGEMENT PERSONNEL
The School has assessed the key management personnel positions in context of the School being constituted under the Grammar Schools Act 2016. The following details for key management personnel include those positions that had authority and responsibility for planning, directing and controlling the activities of the School during 2019. Further information on these positions can be found in the body of the Annual Report under the section relating to Governance.
Position Responsibilities Current Incumbents Contract classification and Date appointed appointment authority to position Trustee To supervise, maintain and control the conduct of Elected position through roll of 15 Dec 2016 the School. To make rules with regards to the electors and appointment by the Trustee 3 May 2018 management and control of the School. Governor in Council Trustee 31 Jan 2019 Trustee Appointed by the Governor 3 May 2018 in Council Trustee 18 Dec 2014 Trustee 18 Dec 2014 Trustee 31 Jan 2019 Trustee Additional Governor in Council 20 Nov 2006 appointment under S14(1)(c) of the Grammar Schools Act 2016 Principal Responsible for the operational management of the Five year contract 15 April 2013 School, implementation of plans and strategies as (extended to 31 Dec 2022) approved by the Board of Trustees Deputy Principal Supports the Principal in the operational Outgoing: Deputy Principal 1 management of the School, implementation of Jan 2014 to 9 Jan 2019 plans and strategies as delegated by the Principal. Appointed: Deputy Principal The Deputy Principal has collaborative (contract expires 31 Dec 2021) 1 Jan 2019 responsibilities in relation to the design, formerly Deputy Principal development and delivery of the School's student (Students) care programme curriculum. Deputy Principal The role of Deputy Principal (Students) was 11 July 2018 to 9 January 2019 N/A (Students) redesigned in early January 2019 with the appointment of the incumbent to the role of Deputy Principal on 10 January 2019. Deputy Principal Responsible for the strategic leadership of expert Five year contract 1 Jan 2018 (Academic) teaching, pedagogy and professional development (expires 31 Dec 2022) in the School and supports the development of a highly competent, ethical and professionally fulfilled academic staff. The Deputy Principal (Academic) works with Heads of Department and Teachers in Charge of Subjects and has collaborative leadership responsibilities in relation to the research, development, design and delivery of the School’s curriculum. Chief Financial Officer Responsible for the financial, facilities and Five year contract 16 Jan 2016 and Secretary to the information systems management of the School (expires 31 Dec 2021) Board and to act as secretary to the Board of Trustees
The remuneration and other terms of employment for the key executive management personnel are specified in employment contracts. For the 2019 year, remuneration of key executive management personnel increases were based on performance assessments. The percentage increases are tied to the achievement of pre-determined individual performance targets.
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50 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 17 KEY MANAGEMENT PERSONNEL (Cont’d) Remuneration packages for key management personnel comprise the following components:- • Short term employee benefits which include: • Base - consisting of base salary, allowances and leave entitlements paid and provided for the entire year or for that part of the year during which the employee occupied the specified position. Amounts disclosed equal the amount expensed in the Statement of Comprehensive Income. • Non-monetary benefits – consisting of provision of fringe benefits together with fringe benefits tax applicable to the benefit. • Long term employee benefits include long service leave entitlements earned and expensed for the entire year, or for that period of that year the individuals occupied the position. • Post employment benefits include superannuation contributions. • Redundancy payments are not provided for within individual contracts of employment. Contracts of employment provide only for notice periods or payment in lieu of notice on termination, regardless of the reason for termination. • No KMP's remuneration packages provide for performance payments. 1 January - 31 December 2018 Short Term Employee Long Term Post Termination Total Benefits Employee Employment Benefits Remuneration Benefits Benefits Position Base Non- $ $ $ $ $ Monetary Benefits $ Trustees ------Principal 469,827 - 16,865 22,634 - 509,326 Deputy Principal 262,478 - 4,286 25,573 - 292,337 Deputy Principal 221,473 - 6,894 25,360 - 253,727 (Students) Deputy Principal 198,038 - 5,279 24,225 - 227,542 (Academic) Chief Financial Officer 242,413 - 3,015 25,209 - 270,637 and Secretary to the Board of Trustees 1 January - 31 December 2019 Short Term Employee Long Term Post Termination Total Benefits Employee Employment Benefits Remuneration Benefits Benefits Position Base Non- $ $ $ $ $ Monetary Benefits $ Trustees ------Principal 479,368 - 32,549 27,366 - 539,283 Deputy Principal 24,382 - - 809 - 25,191 (outgoing) Deputy Principal 253,053 - 12,459 26,877 - 292,389
Deputy Principal 220,014 - 16,157 27,060 - 263,231 (Academic) Chief Financial Officer 242,420 - 3,301 25,469 - 271,190 and Secretary to the Board of Trustees
Note: Employee benefit amounts that appear as a negative balance represent higher leave amounts taken than that accrued in that year.
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BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 51 Board of Trustees of the Brisbane Girls Grammar School Note to and forming part of the Financial Statements for the year ended 31 December 2019
Note 18 CONTINGENT LIABILITIES AND ASSETS
(a) Contingent Liabilities There are no contingent liabilities as at 31 December 2019 (2018: nil). (b) Contingent Assets There are no contingent assets as at 31 December 2019 (2018: nil). Note 19 EVENTS OCCURRING AFTER BALANCE DATE There has been no matter or circumstance which has arisen since 31 December 2019 that has significantly affected or may significantly affect the operations, the results of those operations, or the state of affairs of the School in financial years subsequent to 31 December 2019. Note 20 RELATED PARTY TRANSACTIONS There were no related party transactions during the 2019 year.
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52 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations The Board of Trustees of the Brisbane Girls Grammar School
These general purpose financial statements have been prepared pursuant to S 62(1) of the Financial Accountability Act 2009 (the Act), section 42 of the Financial and Performance Management Standard 2019, the Australian Charities and Not-for- profits Commission Act 2012, the Australian Charities and Not-for-profits Regulation 2013 and other prescribed requirements.
In accordance with s.62(1)(b) of the Act we certify that in our opinion:
(a) the prescribed requirements for establishing and keeping the accounts have been complied with in all material respects; and
(b) the financial statements have been drawn up to present a true and fair view, in accordance with prescribed accounting standards, of the transactions of the Board of Trustees of the Brisbane Girls Grammar School for the financial year ended 31 December 2019 and of the financial position of the School as at the end of that year; and
We acknowledge responsibility under s.8 and s.15 of the Financial and Performance Management Standard 2019 for the establishment and maintenance, in all material respects, of an appropriate and effective system of internal controls and risk management processes with respect to financial reporting throughout the reporting period.
In accordance with s.60.15 of the Australian Charities and Not-for-profits Regulation we certify that in our opinion:
(a) there are reasonable grounds to believe that the registered entity is able to pay all of its debts, as and when they become due and payable;
(b) the financial statements and notes satisfy the requirements of the Australian Charities and Not-for-profits Commission Act.
Ms Julie McKay Chair Board of Trustees Brisbane Girls Grammar School
Ms Rachel Fraser Chief Financial Officer Brisbane Girls Grammar School
20 February 2020 Date
Page 25 of 25 | 2019 Financial Statements
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 53 INDEPENDENT AUDITOR’S REPORT
To the Board of Trustees of the Brisbane Girls Grammar School
Report on the audit of the financial report Opinion I have audited the accompanying financial report of The Board of Trustees of the Brisbane Girls Grammar School. In my opinion, the financial report: a) gives a true and fair view of the entity's financial position as at 31 December 2019, and its financial performance and cash flows for the year then ended b) complies with the Financial Accountability Act 2009, the Financial and Performance Management Standard 2019, the Australian Charities and Not-for-profits Commission Act 2012, the Australian Charities and Not-for-profits Commission Regulation 2013 and Australian Accounting Standards – Reduced Disclosure Requirements. The financial report comprises the statement of financial position as at 31 December 2019, the statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended, notes to the financial statements including summaries of significant accounting policies and other explanatory information, and the management certificate. Basis for opinion I conducted my audit in accordance with the Auditor-General of Queensland Auditing Standards, which incorporate the Australian Auditing Standards. My responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Report section of my report. I am independent of the entity in accordance with the auditor independence requirements of the Australian Charities and Not-for-profits Commission Act 2012 and with the ethical requirements of the Accounting Professional and Ethical Standards Board’s APES 110 Code of Ethics for Professional Accountants (the Code) that are relevant to my audit of the financial report in Australia. I have also fulfilled my other ethical responsibilities in accordance with the Code and the Auditor-General of Queensland Auditing Standards. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my opinion. Responsibilities of the entity for the financial report The Board is responsible for the preparation of the financial report that gives a true and fair view in accordance with the Financial Accountability Act 2009, the Financial and Performance Management Standard 2019, the Australian Charities and Not-for-profits Commission Act 2012, the Australian Charities and Not-for-profits Commission Regulation 2013 and Australian Accounting Standards – Reduced Disclosure Requirements, and for such internal control as the Board determines is necessary to enable the preparation of the financial report that is free from material misstatement, whether due to fraud or error. The Board is also responsible for assessing the entity's ability to continue as a going concern, disclosing, as applicable, matters relating to going concern and using the going concern basis of accounting unless it is intended to abolish the entity or to otherwise cease operations. Auditor’s responsibilities for the audit of the financial report My objectives are to obtain reasonable assurance about whether the financial report as a whole is free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with the Australian Auditing Standards will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this financial report. As part of an audit in accordance with the Australian Auditing Standards, I exercise professional judgement and maintain professional scepticism throughout the audit. I also: • Identify and assess the risks of material misstatement of the financial report, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for my opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. • Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for expressing an opinion on the effectiveness of the entity's internal control. • Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the entity. • Conclude on the appropriateness of the entity's use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the entity's ability to continue as a going concern. If I conclude that a material uncertainty exists, I am required to draw attention in my auditor’s report to the related disclosures in the financial report or, if such disclosures are inadequate, to modify my opinion. I base my conclusions on the audit evidence obtained up to the date of my auditor’s report. However, future events or conditions may cause the entity to cease to continue as a going concern. • Evaluate the overall presentation, structure and content of the financial report, including the disclosures, and whether the financial report represents the underlying transactions and events in a manner that achieves fair presentation. I communicate with the Board regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that I identify during my audit. In accordance with s.40 of the Auditor-General Act 2009, for the year ended 31 December 2019: a) I received all the information and explanations I required. b) In my opinion, the prescribed requirements in relation to the establishment and keeping of accounts were complied with in all material respects.
25 February 2020
Melissa Fletcher Queensland Audit Office as delegate of the Auditor-General Brisbane
56 BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations ANNEXURE C—GLOSSARY
AUDIT, RISK AND COMPLIANCE (ARC) Subcommittee of the Board of Trustees formed in COMMITTEE August 2018
CAPITAL ASSETS COMMITTEE Subcommittee of the Board of Trustees formed in August 2018, dissolved in March 2019 with its body of work transferred to the ARC Committee
FULLTIME EQUIVALENTS (FTES) A representative number that is calculated by assessing the hours worked over the financial year by all full-time and part-time employees, and converting this to a corresponding number of employees as if all staff were full-time.
INFORMATION TECHNOLOGIES (IT) An umbrella term that describes the use of all and any advanced technologies in the manipulation and communication of information.
MARRAPATTA MEMORIAL OUTDOOR The School’s Outdoor Education centre at Imbil in EDUCATION CENTRE (MARRAPATTA) the Mary Valley.
NATIONAL ASSESSMENT PROGRAM LITERACY Tests conducted nationally in Years 3, 5, 7 and 9, AND NUMERACY (NAPLAN) covering reading, writing, spelling, grammar and punctuation, and numeracy. The results provide information for teachers and schools on individual student performance on a national basis. This is used to identify areas of strength and where further assistance may be required. NAPLAN tests are part of a collaborative process between states and territories, the Australian Government and non- government schools’ sectors.
OVERALL POSITION (OP) A student’s state-wide rank based on overall achievement in QCAA-approved subjects. It indicates how well the student has done in comparison to all other OP-eligible students in Queensland. Students who want an OP must study twenty semester units of QCAA subjects, including at least three subjects for four semesters each, and must sit the QCS test.
QUEENSLAND CORE SKILLS TEST (QCST) A state-wide test designed for Year 12 students conducted by the QCAA.
QUEENSLAND COLLEGE OF TEACHERS A Queensland Government statutory authority established in January 2006. Its purpose is to regulate, enhance and promote the teaching profession in Queensland in the best interests of the public and the profession.
QUEENSLAND CURRICULUM AND ASSESSMENT A statutory body of the Queensland Government, AUTHORITY (QCAA) providing Kindergarten to Year 12 syllabuses, guidelines, assessment, reporting, testing and certification services for Queensland schools.
RANGAKARRA RECREATIONAL AND The School’s recreation and environmental ENVIRONMENTAL EDUCATION CENTRE educational centre at Fig Tree Pocket. This campus (RANGAKARRA) provides a home ground for Girls Grammar sporting teams.
BRISBANE GIRLS GRAMMAR SCHOOL 2019 Annual Report to the Minister for Education and Minister for Industrial Relations 57 Brisbane Girls Grammar School Telephone (+61) 7 3332 1300 facebook.com/BrisbaneGirlsGrammar Gregory Terrace Facsimile (+61) 7 3832 6097 twitter.com/BGGS Brisbane QLD 4000 Email [email protected] Australia www.bggs.qld.edu.au linkedin.com/company/brisbane-girls-grammar-school